12,752 Cirrus Logic, Inc. $CRUS Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 26.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,143 shares of the semiconductor company’s stock after buying an additional 12,752 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cirrus Logic were worth $7,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Cirrus Logic during the second quarter worth about $840,638,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cirrus Logic by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock worth $192,055,000 after acquiring an additional 83,897 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Cirrus Logic in the 2nd quarter worth approximately $168,329,000. Quantinno Capital Management LP boosted its position in shares of Cirrus Logic by 21.1% during the 1st quarter. Quantinno Capital Management LP now owns 942,207 shares of the semiconductor company’s stock worth $136,262,000 after purchasing an additional 163,979 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Cirrus Logic by 34.3% during the 1st quarter. First Trust Advisors LP now owns 473,721 shares of the semiconductor company’s stock worth $68,509,000 after purchasing an additional 120,935 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $107.75, for a total value of $125,636.50. Following the transaction, the executive vice president directly owned 11,741 shares in the company, valued at $1,265,092.75. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,498 shares of company stock valued at $401,850 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $121.71 on Friday. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 15.37 and a beta of 1.23. The stock’s 50-day moving average is $115.08 and its two-hundred day moving average is $137.99. Cirrus Logic, Inc. has a 1-year low of $105.10 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.28. Cirrus Logic had a return on equity of 19.77% and a net margin of 20.20%. The business had revenue of $559.46 million during the quarter, compared to analysts’ expectations of $540.37 million. During the same period in the prior year, the firm posted $2.83 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Cirrus Logic, Inc. will post 7.20 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRUS. Weiss Ratings downgraded shares of Cirrus Logic from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. KeyCorp cut Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Barclays lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $130.00 to $95.00 in a research report on Tuesday, October 20th. Stifel Nicolaus dropped their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Susquehanna cut their price objective on Cirrus Logic from $200.00 to $170.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $147.50.

About Cirrus Logic

Cirrus Logic is a fabless semiconductor company that designs high-performance, low-power integrated circuits, with a focus on audio and mixed-signal technologies. Its products include audio converters and codecs, amplifiers, and other components used to capture, process, and reproduce sound. The company also develops mixed-signal products for applications such as haptics and power management. Its chips are designed for a range of markets, including smartphones, computers, consumer audio equipment, automotive systems, and industrial devices.