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Do Hedge Funds and Insiders Love Cirrus Logic, Inc. (CRUS)?

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Now, according to many of your fellow readers, hedge funds are seen as delayed, outdated investment vehicles of a period lost to current times. Although there are more than 8,000 hedge funds with their doors open today, this site looks at the moguls of this group, close to 525 funds. Analysts calculate that this group oversees the majority of the smart money’s total capital, and by watching their highest quality stock picks, we’ve revealed a number of investment strategies that have historically outperformed Mr. Market. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 33 percentage points in 11 months (see all of our picks from August).

Cirrus Logic, Inc. (NASDAQ:CRUS)

Just as useful, bullish insider trading sentiment is another way to analyze the world of equities. As the old adage goes: there are a number of stimuli for an executive to sell shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the useful potential of this tactic if “monkeys” know where to look (learn more here).

Thus, let’s discuss the newest info about Cirrus Logic, Inc. (NASDAQ:CRUS).

What have hedge funds been doing with Cirrus Logic, Inc. (NASDAQ:CRUS)?

At Q2’s end, a total of 18 of the hedge funds we track held long positions in this stock, a change of -10% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their stakes significantly.

According to our 13F database, Royce & Associates, managed by Chuck Royce, holds the largest position in Cirrus Logic, Inc. (NASDAQ:CRUS). Royce & Associates has a $97.7 million position in the stock, comprising 0.3% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $29 million position; 0.1% of its 13F portfolio is allocated to the stock. Other hedgies with similar optimism include Philippe Laffont’s Coatue Management, John Thaler’s JAT Capital Management and Joel Greenblatt’s Gotham Asset Management.

Since Cirrus Logic, Inc. (NASDAQ:CRUS) has experienced declining interest from upper-tier hedge fund managers, it’s easy to see that there were a few funds who were dropping their full holdings in Q1. It’s worth mentioning that Daniel Benton’s Andor Capital Management dumped the biggest position of the 450+ funds we watch, totaling an estimated $22.8 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital was right behind this move, as the fund cut about $11.5 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 2 funds in Q1.

What do corporate executives and insiders think about Cirrus Logic, Inc. (NASDAQ:CRUS)?

Insider buying made by high-level executives is at its handiest when the primary stock in question has experienced transactions within the past half-year. Over the latest six-month time period, Cirrus Logic, Inc. (NASDAQ:CRUS) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Cirrus Logic, Inc. (NASDAQ:CRUS). These stocks are First Solar, Inc. (NASDAQ:FSLR), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), SunPower Corporation (NASDAQ:SPWR), Silicon Laboratories (NASDAQ:SLAB), and SolarCity Corp (NASDAQ:SCTY). This group of stocks are the members of the semiconductor – specialized industry and their market caps are closest to CRUS’s market cap.

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