Teacher Retirement System of Texas Purchases 7,987 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Teacher Retirement System of Texas raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,627 shares of the semiconductor company’s stock after buying an additional 7,987 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Cirrus Logic worth $5,340,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic in the third quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $47,000. Finally, Quent Capital LLC raised its position in shares of Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 296 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Down 0.1 %

Shares of CRUS stock opened at $99.79 on Monday. The business has a fifty day simple moving average of $103.35 and a 200 day simple moving average of $109.30. The company has a market cap of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays raised their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.