Louisiana State Employees Retirement System raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,000 shares of the semiconductor company’s stock after buying an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cirrus Logic were worth $1,564,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Somerset Trust Co grew its holdings in Cirrus Logic by 3.5% during the 2nd quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 110 shares during the last quarter. May Hill Capital LLC grew its holdings in Cirrus Logic by 5.4% during the 1st quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 113 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Cirrus Logic by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,806 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 116 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Cirrus Logic by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 18,431 shares of the semiconductor company’s stock valued at $1,922,000 after buying an additional 122 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its holdings in Cirrus Logic by 3.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.
Cirrus Logic Stock Down 7.3%
Shares of Cirrus Logic stock opened at $115.68 on Monday. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $129.56. The firm has a market cap of $5.94 billion, a PE ratio of 18.10 and a beta of 1.09. The business’s fifty day moving average is $116.74 and its two-hundred day moving average is $105.45.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cirrus Logic in a report on Wednesday, October 8th. Stifel Nicolaus increased their price target on Cirrus Logic from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Wall Street Zen lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.
Get Our Latest Analysis on CRUS
Insider Buying and Selling
In related news, EVP Denise Grode sold 2,202 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $116.87, for a total value of $257,347.74. Following the transaction, the executive vice president directly owned 5,698 shares of the company’s stock, valued at approximately $665,925.26. This trade represents a 27.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the completion of the transaction, the executive vice president directly owned 14,001 shares in the company, valued at $1,565,031.78. This trade represents a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,453 shares of company stock valued at $3,821,790. 1.16% of the stock is currently owned by company insiders.
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.
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