Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,919 shares of the semiconductor company’s stock after selling 5,224 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Cirrus Logic worth $8,160,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRUS. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cirrus Logic by 9.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,495 shares of the semiconductor company’s stock valued at $956,000 after acquiring an additional 984 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cirrus Logic by 5.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 32,509 shares of the semiconductor company’s stock worth $2,704,000 after purchasing an additional 1,667 shares in the last quarter. Van ECK Associates Corp lifted its stake in Cirrus Logic by 28.7% during the fourth quarter. Van ECK Associates Corp now owns 14,662 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 3,267 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Cirrus Logic by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 11,517 shares of the semiconductor company’s stock worth $958,000 after buying an additional 1,531 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in Cirrus Logic by 24.5% in the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after buying an additional 12,377 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total value of $1,413,148.32. Following the transaction, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares in the company, valued at $2,894,262. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,259 shares of company stock valued at $3,464,609. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRUS. Susquehanna increased their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Stifel Nicolaus upped their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. KeyCorp lifted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, TD Cowen raised their target price on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Cirrus Logic Price Performance

Shares of CRUS opened at $144.52 on Friday. The business’s 50-day moving average is $131.54 and its 200-day moving average is $109.29. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 29.31 and a beta of 0.94. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $145.10.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. The company had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal 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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.