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

Ontario Teachers Pension Plan Board grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,044 shares of the semiconductor company’s stock after acquiring an additional 6,331 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.05% of Cirrus Logic worth $2,892,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CRUS. Allianz Asset Management GmbH boosted its stake in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after purchasing an additional 604,431 shares in the last quarter. Norges Bank acquired a new position in Cirrus Logic during the 4th quarter valued at approximately $58,723,000. Pacer Advisors Inc. raised its holdings in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after buying an additional 387,346 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Cirrus Logic by 7,706.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock worth $24,893,000 after buying an additional 246,775 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Cirrus Logic by 443.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after buying an additional 178,469 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of a number of research reports. Barclays lifted their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Benchmark reaffirmed a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Up 1.3 %

Shares of CRUS stock opened at $87.41 on Tuesday. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The stock has a market cap of $4.65 billion, a PE ratio of 15.86 and a beta of 0.95. The business has a 50-day simple moving average of $100.17 and a 200-day simple moving average of $104.95.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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.