California Public Employees Retirement System Grows Holdings in Cirrus Logic, Inc. $CRUS

California Public Employees Retirement System raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,804 shares of the semiconductor company’s stock after buying an additional 7,251 shares during the period. California Public Employees Retirement System’s holdings in Cirrus Logic were worth $15,012,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRUS. Mach 1 Financial Group LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $736,000. LSV Asset Management raised its stake in Cirrus Logic by 1.0% during the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after buying an additional 23,703 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Cirrus Logic by 9.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock worth $15,391,000 after acquiring an additional 11,607 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in Cirrus Logic in the fourth quarter valued at about $888,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new position in Cirrus Logic in the fourth quarter valued at about $21,988,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Trading Down 4.3%

CRUS stock opened at $133.53 on Friday. The stock has a 50-day moving average price of $156.93 and a two-hundred day moving average price of $148.50. The stock has a market cap of $6.74 billion, a PE ratio of 17.03 and a beta of 1.17. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, analysts forecast that Cirrus Logic, Inc. will post 7.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRUS shares. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Barclays boosted their price objective on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a report on Thursday, May 7th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.29.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Andrew Brannan sold 6,464 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the sale, the executive vice president owned 7,203 shares in the company, valued at approximately $1,042,346.13. The trade was a 47.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the transaction, the chief executive officer directly owned 70,016 shares of the company’s stock, valued at approximately $11,931,426.56. This trade represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,299 shares of company stock valued at $3,581,647 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

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.