Teachers Retirement System of The State of Kentucky Trims Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Teachers Retirement System of The State of Kentucky lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 33,569 shares of the semiconductor company’s stock after selling 5,758 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Cirrus Logic worth $3,107,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Cirrus Logic in the fourth quarter worth about $173,000. Venturi Wealth Management LLC lifted its stake in shares of Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the period. Allworth Financial LP boosted its position in shares of Cirrus Logic by 2.9% during the fourth quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 213 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Cirrus Logic by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 53,729 shares of the semiconductor company’s stock worth $4,470,000 after purchasing an additional 703 shares during the period. Finally, Cardinal Capital Management raised its holdings in Cirrus Logic by 1.2% in the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after purchasing an additional 189 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cirrus Logic

In related news, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott Thomas sold 11,706 shares of the stock in a transaction 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 sale, the senior vice president now owns 23,975 shares in the company, valued at approximately $2,894,262. The disclosure for this sale can be found here. Insiders sold 18,706 shares of company stock worth $2,187,098 in the last quarter. 1.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CRUS. Barclays boosted their price target on Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Susquehanna increased their target price on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Finally, TD Cowen lifted 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 investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.57.

Cirrus Logic Trading Down 5.3 %

Cirrus Logic stock traded down $6.40 during mid-day trading on Friday, hitting $114.73. The stock had a trading volume of 536,964 shares, compared to its average volume of 495,196. The firm’s 50 day moving average is $126.62 and its 200 day moving average is $103.57. The firm has a market capitalization of $6.13 billion, a P/E ratio of 23.27 and a beta of 0.94. 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 quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.48. The business had revenue of $371.83 million during the quarter, compared to the consensus estimate of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 4.75 earnings per share for the current 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.