Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 18,472 shares of the semiconductor company’s stock after selling 830 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cirrus Logic were worth $2,294,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after buying an additional 128,393 shares during the period. LSV Asset Management grew its position in shares of Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after acquiring an additional 486,086 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Cirrus Logic by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after acquiring an additional 39,759 shares during the period. Sei Investments Co. raised its position in Cirrus Logic by 8.6% in the 2nd quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after purchasing an additional 59,690 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after purchasing an additional 657,288 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRUS has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna dropped their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday. They set a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.67.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $100.39 on Thursday. Cirrus Logic, Inc. has a 1-year low of $73.74 and a 1-year high of $147.46. The stock’s 50 day moving average price is $120.23 and its 200 day moving average price is $122.71. The company has a market cap of $5.33 billion, a PE ratio of 17.02 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter last year, the business earned $1.43 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

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.