Oregon Public Employees Retirement Fund Sells 2,182 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Oregon Public Employees Retirement Fund lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,155 shares of the semiconductor company’s stock after selling 2,182 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cirrus Logic were worth $1,424,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the period. Sei Investments Co. raised its holdings in Cirrus Logic by 30.8% in the 4th quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock valued at $54,406,000 after acquiring an additional 153,946 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Cirrus Logic by 24.5% in the 4th quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after acquiring an additional 12,377 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Cirrus Logic by 51.5% during the 4th quarter. BNP Paribas Financial Markets now owns 62,872 shares of the semiconductor company’s stock worth $5,230,000 after purchasing an additional 21,381 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $27,072,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $132.32 on Friday. The company’s 50 day simple moving average is $134.49 and its 200 day simple moving average is $112.78. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The firm has a market capitalization of $7.07 billion, a P/E ratio of 26.84 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.19 EPS for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the subject of several research reports. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna lifted their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Stifel Nicolaus lifted their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Insider Activity

In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at approximately $544,704.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value 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. Insiders sold a total of 26,259 shares of company stock valued at $3,348,759 in the last ninety days. 1.02% of the stock is owned by insiders.

About Cirrus Logic

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.