California Public Employees Retirement System Increases Stake in Cirrus Logic, Inc. (CRUS)

California Public Employees Retirement System grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 13.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 198,377 shares of the semiconductor company’s stock after acquiring an additional 22,855 shares during the period. California Public Employees Retirement System owned 0.31% of Cirrus Logic worth $8,060,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Cirrus Logic by 11.4% in the 1st quarter. BlackRock Inc. now owns 7,875,410 shares of the semiconductor company’s stock valued at $319,978,000 after acquiring an additional 804,774 shares during the last quarter. LSV Asset Management lifted its stake in shares of Cirrus Logic by 1.3% in the 1st quarter. LSV Asset Management now owns 3,241,386 shares of the semiconductor company’s stock valued at $131,697,000 after acquiring an additional 42,800 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cirrus Logic by 7.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,764,220 shares of the semiconductor company’s stock valued at $91,491,000 after acquiring an additional 127,027 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Cirrus Logic by 10.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,304,324 shares of the semiconductor company’s stock valued at $67,642,000 after acquiring an additional 125,285 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Cirrus Logic by 39.8% in the 4th quarter. Deutsche Bank AG now owns 588,469 shares of the semiconductor company’s stock valued at $30,516,000 after acquiring an additional 167,607 shares during the last quarter. Institutional investors own 91.04% of the company’s stock.

A number of research analysts have recently commented on CRUS shares. BidaskClub cut Cirrus Logic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 27th. Craig Hallum upgraded Cirrus Logic from a “hold” rating to a “buy” rating and dropped their price target for the company from $44.00 to $43.00 in a research note on Monday, April 30th. TheStreet cut Cirrus Logic from a “b-” rating to a “c+” rating in a research note on Tuesday, April 17th. Zacks Investment Research upgraded Cirrus Logic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 10th. Finally, ValuEngine cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.91.



Shares of Cirrus Logic opened at $37.86 on Wednesday, MarketBeat.com reports. The firm has a market cap of $2.34 billion, a P/E ratio of 10.26, a P/E/G ratio of 1.34 and a beta of 0.29. Cirrus Logic, Inc. has a 12-month low of $34.78 and a 12-month high of $66.87.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 2nd. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.07). The company had revenue of $303.20 million for the quarter, compared to the consensus estimate of $316.57 million. Cirrus Logic had a return on equity of 20.50% and a net margin of 10.57%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. equities research analysts anticipate that Cirrus Logic, Inc. will post 2.58 earnings per share for the current year.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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