Teacher Retirement System of Texas Has $2.11 Million Stake in Cirrus Logic, Inc. $CRUS

Teacher Retirement System of Texas boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,278 shares of the semiconductor company’s stock after buying an additional 2,707 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cirrus Logic were worth $2,114,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Cirrus Logic during the first quarter worth $30,000. RMG Wealth Management LLC acquired a new position in Cirrus Logic during the second quarter worth $30,000. Ameritas Advisory Services LLC acquired a new position in Cirrus Logic during the second quarter worth $31,000. Geneos Wealth Management Inc. increased its position in Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after buying an additional 232 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Cirrus Logic during the second quarter worth $49,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Susquehanna increased their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Cirrus Logic in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 18th. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

Cirrus Logic Stock Down 1.1%

CRUS stock opened at $131.24 on Tuesday. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $136.92. The company has a market cap of $6.74 billion, a PE ratio of 20.54 and a beta of 1.09. The business’s 50-day simple moving average is $123.07 and its 200 day simple moving average is $110.12.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.44. The business had revenue of $407.27 million for the quarter, compared to the consensus estimate of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 earnings per share. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Scott Thomas sold 11,089 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the completion of the transaction, the executive vice president owned 26,307 shares in the company, valued at $3,196,037.43. This trade represents a 29.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the transaction, the executive vice president owned 14,001 shares of the company’s stock, valued at approximately $1,565,031.78. This represents a 41.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,187 shares of company stock worth $3,918,128 over the last quarter. Company insiders own 1.16% of the company’s stock.

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 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.