Louisiana State Employees Retirement System Acquires New Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Louisiana State Employees Retirement System bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,100 shares of the semiconductor company's stock, valued at approximately $1,256,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UBS Group AG increased its position in Cirrus Logic by 86.9% in the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company's stock worth $4,572,000 after buying an additional 28,735 shares during the period. FMR LLC increased its position in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company's stock worth $558,593,000 after buying an additional 327,269 shares during the period. Vanguard Group Inc. increased its position in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company's stock worth $465,923,000 after buying an additional 105,577 shares during the period. LSV Asset Management increased its position in Cirrus Logic by 0.9% in the 3rd quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company's stock worth $96,697,000 after buying an additional 12,300 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Cirrus Logic in the 3rd quarter worth approximately $62,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company's stock in a transaction dated 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 owns 1,587 shares in the company, valued at $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company's stock in a transaction dated 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 owns 1,587 shares in the company, valued at $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company's stock, valued at approximately $569,170. The disclosure for this sale can be found here. Insiders have sold 7,530 shares of company stock valued at $700,292 over the last 90 days. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRUS. Stifel Nicolaus boosted their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, February 7th. StockNews.com cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Susquehanna boosted their price target on Cirrus Logic from $85.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, February 7th. Barclays upped their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. Finally, TheStreet upgraded Cirrus Logic from a "c+" rating to a "b-" rating in a research report on Tuesday, January 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic presently has an average rating of "Buy" and an average target price of $96.43.

Cirrus Logic Stock Performance

Cirrus Logic stock traded down $0.22 on Tuesday, reaching $84.25. The company's stock had a trading volume of 386,363 shares, compared to its average volume of 415,975. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 26.75 and a beta of 1.00. The business's fifty day moving average price is $90.22 and its 200 day moving average price is $81.94. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $95.87.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.83. The company had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

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.