New York State Teachers Retirement System Sells 1,392 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

New York State Teachers Retirement System lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,726 shares of the semiconductor company’s stock after selling 1,392 shares during the period. New York State Teachers Retirement System’s holdings in Cirrus Logic were worth $6,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atria Investments Inc lifted its stake in shares of Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Cirrus Logic by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 153 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Cirrus Logic by 9.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,886 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 158 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRUS shares. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Stifel Nicolaus dropped their price target 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. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Finally, Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Up 0.2 %

CRUS stock opened at $111.40 on Thursday. The firm has a market cap of $5.92 billion, a PE ratio of 20.22 and a beta of 0.91. The business has a 50 day moving average of $102.86 and a 200-day moving average of $114.64. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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.