OMERS ADMINISTRATION Corp Lowers Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

OMERS ADMINISTRATION Corp trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,900 shares of the semiconductor company's stock after selling 6,900 shares during the period. OMERS ADMINISTRATION Corp's holdings in Cirrus Logic were worth $1,384,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Cirrus Logic by 0.7% during the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock worth $1,543,000 after purchasing an additional 101 shares in the last quarter. Truvestments Capital LLC increased its stake in Cirrus Logic by 3.5% during the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after buying an additional 133 shares during the period. Ritholtz Wealth Management lifted its holdings in Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after buying an additional 153 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after buying an additional 155 shares in the last quarter. Finally, Covestor Ltd boosted its position in Cirrus Logic by 21.5% in the 4th quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock valued at $106,000 after buying an additional 187 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRUS shares. Barclays increased their price target on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Finally, Benchmark restated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $128.33.

Cirrus Logic Stock Down 0.8%

CRUS traded down $0.84 on Thursday, reaching $103.47. The company's stock had a trading volume of 116,162 shares, compared to its average volume of 629,967. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 18.73 and a beta of 0.92. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The stock has a 50 day moving average of $95.38 and a two-hundred day moving average of $100.76.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.52. Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. The firm had revenue of $424.46 million for the quarter, compared to the consensus estimate of $380.26 million. During the same period last year, the firm posted $1.24 EPS. The company's revenue was up 14.2% on a year-over-year basis. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Cirrus Logic Profile

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.