Retirement Systems of Alabama Has $7.34 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Retirement Systems of Alabama trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 88,205 shares of the semiconductor company’s stock after selling 806 shares during the period. Retirement Systems of Alabama’s holdings in Cirrus Logic were worth $7,338,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CRUS. Venturi Wealth Management LLC grew its position in shares of Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 300 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Cirrus Logic in the third quarter valued at approximately $62,000. Disciplined Equity Management Inc. acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $83,000. Finally, Covestor Ltd increased its position in Cirrus Logic by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 174 shares during the period. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Price Performance

CRUS stock opened at $88.48 on Friday. The company’s 50-day moving average is $89.67 and its 200-day moving average is $82.76. The stock has a market capitalization of $4.77 billion, a PE ratio of 28.09 and a beta of 0.99. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. On average, analysts anticipate that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock worth $700,292 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRUS. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen boosted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Susquehanna raised their target price on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $96.43.

About Cirrus Logic

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 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 processing; boosted amplifiers; 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.