Major Stock Movers: Inuvo, Clearside Biomedical, Cirrus Logic, and More

Also down on Monday were Apple suppliers STMicroelectronics N.V. (NYSE:STM) and Cirrus Logic Inc. (NASDAQ:CRUS), which each fell around 3.5% due to the news that Apple cut excess production of the iPhone XR due to weak demand. Investors were hoping that the ‘budget’ phone would stimulate more demand for iPhone supplies, something that evidently may not come true now.

STM was in 18 hedge funds’ portfolios at the end of June. There were 12 hedge funds in our database with STM positions at the end of the previous quarter. As for Cirrus, in terms of elite funds we track, the largest stake in Cirrus Logic, Inc. (NASDAQ:CRUS) was held by AQR Capital Management, which reported holding $105.7 million worth of stock at the end of June. It was followed by Renaissance Technologies with a $29.8 million position. Other investors bullish on the company included Sprott Asset Management, Nokomis Capital, and Partner Fund Management.

Disclosure:None