Cirrus Logic, Inc. $CRUS Stock Position Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.6% during the first quarter, HoldingsChannel.com reports. The fund owned 28,774 shares of the semiconductor company’s stock after selling 6,583 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cirrus Logic were worth $4,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 88 shares in the last quarter. Kendall Capital Management increased its stake in Cirrus Logic by 0.9% in the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 90 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after buying an additional 95 shares during the period. Finally, Diversified Trust Co raised its holdings in Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after buying an additional 102 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Andrew Brannan sold 6,464 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the sale, the executive vice president owned 7,203 shares in the company, valued at $1,042,346.13. This represents a 47.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of Cirrus Logic stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $166.50, for a total transaction of $333,000.00. Following the sale, the executive vice president directly owned 4,537 shares of the company’s stock, valued at $755,410.50. This trade represents a 30.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,299 shares of company stock valued at $3,581,647 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Cirrus Logic Trading Down 6.2%

Shares of NASDAQ CRUS opened at $137.36 on Wednesday. Cirrus Logic, Inc. has a one year low of $92.02 and a one year high of $180.42. The firm has a market capitalization of $6.93 billion, a PE ratio of 17.52 and a beta of 1.17. The business has a 50-day moving average price of $161.28 and a two-hundred day moving average price of $147.63.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.19. The company had revenue of $448.52 million for the quarter, compared to analysts’ expectations of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 EPS. Research analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

CRUS has been the subject of several recent analyst reports. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a report on Thursday, May 7th. Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. KeyCorp reduced their price target on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.29.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.