Mackay Shields LLC Has $4.32 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mackay Shields LLC grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 132.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,559 shares of the semiconductor company’s stock after purchasing an additional 45,900 shares during the period. Mackay Shields LLC owned about 0.14% of Cirrus Logic worth $4,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in Cirrus Logic in the second quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Cirrus Logic during the second quarter worth $44,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Cirrus Logic by 160.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 800 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Cirrus Logic by 210.6% during the second quarter. Meeder Asset Management Inc. now owns 1,525 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 1,034 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Cirrus Logic by 106.1% during the second quarter. US Bancorp DE now owns 2,117 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 1,090 shares in the last quarter. Institutional investors own 85.86% of the company’s stock.

In other Cirrus Logic news, CFO Thurman K. Case sold 5,000 shares of Cirrus Logic stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $52.34, for a total value of $261,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason P. Rhode sold 128,847 shares of Cirrus Logic stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $52.14, for a total transaction of $6,718,082.58. The disclosure for this sale can be found here. Insiders sold a total of 153,665 shares of company stock valued at $8,065,413 in the last quarter. Corporate insiders own 2.79% of the company’s stock.

Cirrus Logic stock traded up $2.38 during mid-day trading on Friday, reaching $71.13. The company’s stock had a trading volume of 627,200 shares, compared to its average volume of 709,642. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $72.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.63 and a current ratio of 3.38. The business’s 50 day simple moving average is $57.78 and its 200 day simple moving average is $49.85. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91.

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Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.61. Cirrus Logic had a net margin of 9.81% and a return on equity of 13.04%. The business had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $320.37 million. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 2.72 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, October 29th. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a research report on Monday, August 5th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b” rating in a research report on Thursday, October 31st. Finally, Dougherty & Co reissued a “buy” rating and set a $62.00 price objective (up previously from $53.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $59.89.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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