New York State Common Retirement Fund Lowers Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

New York State Common Retirement Fund decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,384 shares of the semiconductor company’s stock after selling 3,470 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Cirrus Logic worth $3,526,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after buying an additional 327,269 shares in the last quarter. Vanguard Group Inc. increased its stake in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares in the last quarter. Mackenzie Financial Corp increased its stake in Cirrus Logic by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after purchasing an additional 35,722 shares in the last quarter. LSV Asset Management raised its holdings in Cirrus Logic by 0.9% during the third quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company’s stock worth $96,697,000 after purchasing an additional 12,300 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in 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 purchasing an additional 80,198 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

CRUS stock opened at $88.48 on Monday. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.09 and a beta of 0.99. The stock’s fifty day moving average is $89.67 and its two-hundred day moving average is $82.86.

Cirrus Logic (NASDAQ:CRUS) last posted its 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 firm had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, analysts predict that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Barclays upped their target price on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Susquehanna raised their price target on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. Stifel Nicolaus upped their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $96.43.

Insiders Place Their Bets

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following 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 is available through this link. In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction dated 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 directly owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,530 shares of company stock worth $700,292. 0.89% of the stock is owned by corporate insiders.

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.