Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,627 shares of the semiconductor company's stock after acquiring an additional 7,987 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Cirrus Logic worth $5,340,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic during the third quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic during the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new position in shares of Cirrus Logic in the 4th quarter valued at approximately $47,000. Finally, Quent Capital LLC boosted its stake in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after buying an additional 296 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Benchmark restated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.86.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS traded down $0.05 during trading on Thursday, reaching $103.26. 535,071 shares of the company's stock traded hands, compared to its average volume of 575,426. The company has a 50 day moving average of $103.46 and a 200-day moving average of $108.80. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The stock has a market capitalization of $5.49 billion, a P/E ratio of 18.74 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate 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 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.