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

Teachers Retirement System of The State of Kentucky lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,774 shares of the semiconductor company’s stock after selling 6,583 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Cirrus Logic worth $4,161,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at approximately $33,000. Torren Management LLC bought a new position in Cirrus Logic during the fourth quarter worth $35,000. Kestra Advisory Services LLC bought a new position in Cirrus Logic during the fourth quarter worth $36,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in Cirrus Logic by 29.2% in the fourth 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 during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $137.36 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42. The business’s fifty day moving average is $161.28 and its 200-day moving average is $147.63. The stock has a market cap of $6.93 billion, a PE ratio of 17.52 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data 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 business had revenue of $448.52 million during the quarter, compared to analyst estimates 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 was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Equities research analysts predict that Cirrus Logic, Inc. will post 8.05 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on CRUS. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays boosted their price objective on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $160.29.

Insider Transactions at Cirrus Logic

In other news, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic 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 transaction, the executive vice president owned 7,203 shares of the company’s stock, valued at $1,042,346.13. The trade was a 47.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the completion of the sale, the executive vice president owned 4,537 shares in the company, valued at $755,410.50. The trade was a 30.60% decrease in their ownership of the stock. 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 22,299 shares of company stock valued at $3,581,647 in the last quarter. 1.20% of the stock is owned by company insiders.

About Cirrus Logic

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.