Cirrus Logic, Inc. (NASDAQ:CRUS) Position Increased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,044 shares of the semiconductor company's stock after purchasing an additional 6,331 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.05% of Cirrus Logic worth $2,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter valued at about $28,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic in the third quarter worth about $35,000. Headlands Technologies LLC purchased a new position in Cirrus Logic in the fourth quarter valued at about $39,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.02% of the company's stock.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. Benchmark reissued a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. Finally, Barclays boosted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $0.06 during midday trading on Friday, hitting $85.58. The company's stock had a trading volume of 519,758 shares, compared to its average volume of 618,592. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The firm's fifty day moving average price is $99.02 and its 200-day moving average price is $104.43. The firm has a market cap of $4.55 billion, a P/E ratio of 15.53 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted 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 net margin of 16.55% and a return on equity of 16.60%. As a group, research analysts predict 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.