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

Teacher Retirement System of Texas raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 53,627 shares of the semiconductor company’s stock after purchasing an additional 7,987 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cirrus Logic were worth $5,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after buying an additional 217,404 shares during the period. Pacer Advisors Inc. boosted its position in Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after acquiring an additional 387,346 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after acquiring an additional 50,582 shares during the period. Allianz Asset Management GmbH grew its holdings in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after acquiring an additional 604,431 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several research analyst reports. Barclays upped their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Benchmark restated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Stock Down 0.1 %

Shares of NASDAQ:CRUS opened at $99.79 on Monday. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The stock’s 50 day moving average is $103.35 and its 200-day moving average is $109.30. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89.

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