California State Teachers Retirement System Sells 9,280 Shares of Cirrus Logic, Inc. (CRUS)

California State Teachers Retirement System lessened its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,374 shares of the semiconductor company’s stock after selling 9,280 shares during the period. California State Teachers Retirement System owned 0.18% of Cirrus Logic worth $7,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRUS. Hanseatic Management Services Inc. grew its stake in shares of Cirrus Logic by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 29,468 shares of the semiconductor company’s stock valued at $1,848,000 after buying an additional 75 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Cirrus Logic by 1.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after buying an additional 76 shares during the period. World Asset Management Inc grew its stake in shares of Cirrus Logic by 2.7% in the 2nd quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after buying an additional 106 shares during the period. Capstone Asset Management Co. lifted its holdings in shares of Cirrus Logic by 3.3% in the 2nd quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock worth $537,000 after acquiring an additional 270 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in shares of Cirrus Logic by 2.5% in the 2nd quarter. Suntrust Banks Inc. now owns 12,253 shares of the semiconductor company’s stock worth $767,000 after acquiring an additional 298 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

In related news, VP Andrew Brannan sold 21,504 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total value of $1,184,870.40. Following the completion of the sale, the vice president now owns 21,504 shares in the company, valued at $1,184,870.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine King sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $56.31, for a total transaction of $281,550.00. Following the completion of the sale, the director now owns 16,182 shares of the company’s stock, valued at approximately $911,208.42. The disclosure for this sale can be found here. Insiders sold 44,367 shares of company stock valued at $2,447,455 in the last quarter. Company insiders own 1.92% of the company’s stock.

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Cirrus Logic, Inc. (CRUS) traded down $0.43 during midday trading on Friday, hitting $56.69. 646,900 shares of the company were exchanged, compared to its average volume of 1,165,682. Cirrus Logic, Inc. has a 1 year low of $49.05 and a 1 year high of $71.97. The stock has a market cap of $3,636.55, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.04 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The company had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. During the same quarter last year, the business earned $1.35 EPS. The business’s revenue was down .7% on a year-over-year basis. analysts expect that Cirrus Logic, Inc. will post 4.31 earnings per share for the current year.

CRUS has been the topic of several recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $76.00 price objective on shares of Cirrus Logic in a report on Tuesday, September 19th. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Vetr upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price on the stock in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.05.

Cirrus Logic Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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