Ontario Teachers Pension Plan Board Grows Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Ontario Teachers Pension Plan Board increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 132.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 33,469 shares of the semiconductor company’s stock after buying an additional 19,073 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.06% of Cirrus Logic worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRUS. Venturi Wealth Management LLC boosted its stake in shares of Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares during the last quarter. Atlas Capital Advisors LLC raised its holdings in Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares during the period. Quadrant Capital Group LLC lifted its position in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. Disciplined Equity Management Inc. bought a new stake in Cirrus Logic during the fourth quarter valued at about $83,000. Finally, SG Americas Securities LLC purchased a new stake in Cirrus Logic in the fourth quarter worth about $173,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded up $3.52 during midday trading on Monday, reaching $138.39. 439,041 shares of the stock traded hands, compared to its average volume of 453,805. The stock has a market capitalization of $7.40 billion, a PE ratio of 27.36 and a beta of 0.94. The company’s 50 day moving average is $123.30 and its 200 day moving average is $100.21. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $371.83 million for the quarter, compared to the consensus estimate of $320.14 million. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, VP Carl Jackson Alberty sold 2,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $113.35, for a total value of $226,700.00. Following the completion of the sale, the vice president now directly owns 38,507 shares of the company’s stock, valued at approximately $4,364,768.45. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cirrus Logic news, VP Carl Jackson Alberty sold 2,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the completion of the sale, the vice president now directly owns 38,507 shares in the company, valued at approximately $4,364,768.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at approximately $629,628.30. The disclosure for this sale can be found here. Insiders sold 18,706 shares of company stock valued at $2,187,098 over the last three months. 1.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of recent research reports. KeyCorp boosted their price objective on Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. TD Cowen boosted their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, StockNews.com raised Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $128.57.

Cirrus Logic 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.