Louisiana State Employees Retirement System increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,800 shares of the semiconductor company’s stock after buying an additional 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Cirrus Logic were worth $1,054,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Cirrus Logic by 13.1% in the second quarter. LS Investment Advisors LLC now owns 6,765 shares of the semiconductor company’s stock valued at $424,000 after buying an additional 783 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Cirrus Logic by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,296 shares of the semiconductor company’s stock valued at $1,461,000 after buying an additional 1,013 shares during the period. Eqis Capital Management Inc. boosted its stake in shares of Cirrus Logic by 15.2% in the second quarter. Eqis Capital Management Inc. now owns 6,494 shares of the semiconductor company’s stock worth $407,000 after buying an additional 857 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Cirrus Logic during the second quarter worth $1,342,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cirrus Logic by 19.1% in the second quarter. Meeder Asset Management Inc. now owns 4,087 shares of the semiconductor company’s stock worth $256,000 after buying an additional 654 shares during the last quarter. 94.23% of the stock is owned by institutional investors.
Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) opened at 57.45 on Monday. Cirrus Logic, Inc. has a 1-year low of $47.01 and a 1-year high of $71.97. The company has a 50-day moving average price of $63.83 and a 200-day moving average price of $61.54. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 13.44 and a beta of 0.01.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. The company had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. Cirrus Logic’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, equities analysts expect that Cirrus Logic, Inc. will post $4.69 earnings per share for the current fiscal year.
A number of research firms recently issued reports on CRUS. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Cirrus Logic in a report on Thursday, June 1st. Stifel Nicolaus lifted their price target on Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. Dougherty & Co lifted their price target on Cirrus Logic from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Vetr downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 target price for the company. in a report on Tuesday, April 18th. Finally, BidaskClub downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Cirrus Logic currently has a consensus rating of “Buy” and an average price target of $68.67.
In related news, Director William D. Sherman sold 1,378 shares of Cirrus Logic stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $61.84, for a total transaction of $85,215.52. Following the sale, the director now directly owns 7,307 shares in the company, valued at approximately $451,864.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Scott Arnold Anderson sold 22,466 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $64.62, for a total transaction of $1,451,752.92. Following the sale, the vice president now owns 24,432 shares in the company, valued at $1,578,795.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,777 shares of company stock worth $2,689,055. Insiders own 1.92% of the company’s stock.
Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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