California Public Employees Retirement System Acquires 182 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

California Public Employees Retirement System raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,074 shares of the semiconductor company’s stock after acquiring an additional 182 shares during the period. California Public Employees Retirement System owned approximately 0.56% of Cirrus Logic worth $25,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Cirrus Logic in the third quarter valued at approximately $62,000. Covestor Ltd raised its holdings in shares of Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after buying an additional 174 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Cirrus Logic by 17.1% in the third quarter. CWM LLC now owns 2,084 shares of the semiconductor company’s stock worth $154,000 after buying an additional 305 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction 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 transaction, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The shares were 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 in the company, valued at approximately $569,170. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock valued at $700,292. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. TD Cowen raised their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Susquehanna raised their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $96.43.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $88.53 on Monday. The firm has a fifty day moving average price of $90.01 and a 200 day moving average price of $82.28. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87. The stock has a market cap of $4.77 billion, a PE ratio of 28.10 and a beta of 1.00.

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

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.