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

Ontario Teachers Pension Plan Board reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 18.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,713 shares of the semiconductor company's stock after selling 5,007 shares during the period. Ontario Teachers Pension Plan Board's holdings in Cirrus Logic were worth $2,821,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRUS. Stonegate Investment Group LLC lifted its holdings in Cirrus Logic by 5.3% in the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock worth $221,000 after buying an additional 90 shares during the period. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 101 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company's stock valued at $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company's stock valued at $563,000 after purchasing an additional 119 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Trading Down 0.4 %

NASDAQ:CRUS traded down $0.36 during trading hours on Wednesday, reaching $100.22. The company had a trading volume of 696,208 shares, compared to its average volume of 518,147. Cirrus Logic, Inc. has a 52 week low of $74.80 and a 52 week high of $147.46. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 17.05 and a beta of 0.96. The firm's 50 day moving average price is $117.59 and its 200-day moving average price is $123.34.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm's revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRUS has been the subject of a number of analyst reports. Loop Capital initiated coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price for the company. Susquehanna raised their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday. Barclays reduced their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Finally, KeyCorp raised their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.50.

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.