Cirrus Logic, Inc. (NASDAQ:CRUS) Holdings Reduced by Strs Ohio

Strs Ohio decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,062 shares of the semiconductor company’s stock after selling 8,275 shares during the period. Strs Ohio’s holdings in Cirrus Logic were worth $1,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Cirrus Logic by 4.5% in the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after acquiring an additional 327,269 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cirrus Logic by 1.7% in the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after acquiring an additional 105,577 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Cirrus Logic by 0.9% in the third quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company’s stock valued at $96,697,000 after acquiring an additional 12,300 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Cirrus Logic by 7.9% in the third quarter. Earnest Partners LLC now owns 1,099,893 shares of the semiconductor company’s stock valued at $81,348,000 after acquiring an additional 80,198 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its holdings in shares of Cirrus Logic by 2.8% in the third quarter. Letko Brosseau & Associates Inc. now owns 614,374 shares of the semiconductor company’s stock valued at $45,439,000 after acquiring an additional 16,935 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares in the company, valued at approximately $569,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by corporate insiders.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $84.47 on Tuesday. The company has a market cap of $4.55 billion, a PE ratio of 26.82 and a beta of 1.00. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87. The firm has a 50 day simple moving average of $90.31 and a 200 day simple moving average of $81.85.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, equities analysts predict that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRUS shares. Susquehanna increased their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. TD Cowen increased their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Barclays increased their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of “Buy” and an average price target of $96.43.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.