Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,066 shares of the semiconductor company's stock after selling 7,991 shares during the quarter. California Public Employees Retirement System owned 0.18% of Cirrus Logic worth $9,666,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in shares of Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after acquiring an additional 142 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Cirrus Logic during the third quarter worth $349,000. Kovitz Investment Group Partners LLC boosted its position in Cirrus Logic by 16.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 3,752 shares of the semiconductor company's stock worth $425,000 after purchasing an additional 535 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Cirrus Logic during the third quarter worth $243,000. Finally, National Bank of Canada FI acquired a new stake in Cirrus Logic in the third quarter valued at $186,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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 note on Wednesday, February 5th. Benchmark restated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.

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Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company's stock.

Cirrus Logic Trading Up 1.7 %

Shares of Cirrus Logic stock traded up $1.42 during mid-day trading on Friday, hitting $86.27. 879,223 shares of the stock were exchanged, compared to its average volume of 614,704. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.66 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The company has a 50-day simple moving average of $100.61 and a 200 day simple moving average of $105.31.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Equities research analysts forecast 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.