Illinois Municipal Retirement Fund Decreases Holdings in Cirrus Logic, Inc. $CRUS

Illinois Municipal Retirement Fund decreased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,218 shares of the semiconductor company’s stock after selling 3,970 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cirrus Logic were worth $4,914,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversified Trust Co increased its stake in shares of Cirrus Logic by 0.9% during the 3rd quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock worth $1,124,000 after purchasing an additional 78 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares during the period. Quadrant Capital Group LLC grew its holdings in Cirrus Logic by 3.3% during the second quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 107 shares during the period. MML Investors Services LLC increased its position in Cirrus Logic by 2.0% in the second quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock worth $691,000 after buying an additional 129 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its stake in shares of Cirrus Logic by 6.2% in the third quarter. Stonegate Investment Group LLC now owns 2,298 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 134 shares during the period. 87.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cirrus Logic news, CEO John Forsyth sold 21,806 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total value of $2,947,080.90. Following the completion of the transaction, the chief executive officer directly owned 50,723 shares of the company’s stock, valued at $6,855,213.45. This trade represents a 30.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the transaction, the executive vice president owned 5,876 shares of the company’s stock, valued at $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,045 shares of company stock valued at $3,835,300. Company insiders own 1.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Benchmark upped their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. KeyCorp boosted their price objective on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Susquehanna lifted their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.43.

Cirrus Logic Stock Up 1.8%

Shares of NASDAQ CRUS opened at $144.63 on Friday. The company has a market cap of $7.38 billion, a P/E ratio of 19.06 and a beta of 1.12. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $146.88. The business has a 50-day simple moving average of $126.42 and a two-hundred day simple moving average of $121.64.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. During the same period in the prior year, the business posted $2.51 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.