California State Teachers Retirement System Grows Stock Position in Cirrus Logic, Inc. $CRUS

California State Teachers Retirement System increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,045 shares of the semiconductor company's stock after buying an additional 99 shares during the period. California State Teachers Retirement System owned about 0.12% of Cirrus Logic worth $8,769,954 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CRUS. LSV Asset Management grew its stake in Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company's stock worth $279,215,000 after buying an additional 23,703 shares during the last quarter. Mach 1 Financial Group LLC acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $736,000. Assenagon Asset Management S.A. raised its holdings in shares of Cirrus Logic by 37.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 213,871 shares of the semiconductor company's stock worth $31,766,000 after acquiring an additional 58,446 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in shares of Cirrus Logic during the 4th quarter worth $21,988,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cirrus Logic by 2,574.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 67,791 shares of the semiconductor company's stock worth $8,033,000 after acquiring an additional 65,256 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRUS has been the topic of a number of analyst reports. Barclays lowered their price objective on Cirrus Logic from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Zacks Research downgraded Cirrus Logic from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Stifel Nicolaus decreased their target price on Cirrus Logic from $197.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $150.71.

Cirrus Logic Trading Up 6.5%

Shares of NASDAQ:CRUS traded up $7.50 during mid-day trading on Tuesday, hitting $123.84. 609,892 shares of the company traded hands, compared to its average volume of 682,208. The stock has a market cap of $6.21 billion, a P/E ratio of 15.20 and a beta of 1.16. The stock has a 50-day moving average price of $125.46 and a two-hundred day moving average price of $145.23. Cirrus Logic, Inc. has a 12-month low of $106.26 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. The company had revenue of $459.72 million for the quarter, compared to analysts' expectations of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. As a group, analysts expect that Cirrus Logic, Inc. will post 7.32 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Andrew Brannan sold 6,464 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the transaction, the executive vice president directly owned 7,203 shares of the company's stock, valued at $1,042,346.13. This trade represents a 47.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $117.89, for a total transaction of $137,459.74. Following the sale, the executive vice president owned 14,073 shares of the company's stock, valued at approximately $1,659,065.97. This trade represents a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,424 shares of company stock worth $1,644,091. 1.20% of the stock is owned by corporate insiders.

Cirrus Logic Profile

Cirrus Logic, Inc NASDAQ: CRUS is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company's product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.

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