Texas Permanent School Fund Grows Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Texas Permanent School Fund grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,403 shares of the semiconductor company’s stock after buying an additional 792 shares during the quarter. Texas Permanent School Fund owned 0.07% of Cirrus Logic worth $3,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Cirrus Logic by 81.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 862 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 388 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Cirrus Logic by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 52,237 shares of the semiconductor company’s stock valued at $4,429,000 after buying an additional 1,126 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Cirrus Logic by 7.4% during the 1st quarter. Teacher Retirement System of Texas now owns 11,836 shares of the semiconductor company’s stock valued at $1,004,000 after buying an additional 815 shares during the last quarter. SG Americas Securities LLC lifted its stake in Cirrus Logic by 28.8% during the second quarter. SG Americas Securities LLC now owns 38,447 shares of the semiconductor company’s stock worth $2,789,000 after purchasing an additional 8,588 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in Cirrus Logic by 1.8% during the first quarter. Advisor Group Holdings Inc. now owns 14,315 shares of the semiconductor company’s stock worth $1,172,000 after purchasing an additional 251 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRUS. Cowen raised their price objective on Cirrus Logic to $100.00 in a research note on Tuesday, August 9th. StockNews.com initiated coverage on Cirrus Logic in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Barclays cut their target price on Cirrus Logic from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Cowen raised their target price on Cirrus Logic from $90.00 to $100.00 in a research note on Wednesday, August 3rd. Finally, Susquehanna Bancshares cut their target price on Cirrus Logic to $110.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Cirrus Logic Stock Up 2.3 %

NASDAQ:CRUS opened at $74.92 on Friday. The business’s 50-day moving average price is $70.56 and its 200 day moving average price is $75.82. The firm has a market cap of $4.13 billion, a P/E ratio of 12.47, a PEG ratio of 4.06 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $61.94 and a 52-week high of $95.84.

Cirrus Logic declared that its board has initiated a share repurchase program on Tuesday, August 2nd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Cirrus Logic Company Profile

(Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including 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 digital signal processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

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

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