Teachers Retirement System of The State of Kentucky increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 728.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,622 shares of the semiconductor company’s stock after buying an additional 112,222 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cirrus Logic were worth $7,746,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Cirrus Logic during the first quarter worth about $108,000. Huntington National Bank raised its stake in Cirrus Logic by 0.5% in the first quarter. Huntington National Bank now owns 2,442 shares of the semiconductor company’s stock worth $148,000 after buying an additional 11 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Cirrus Logic during the first quarter worth about $174,000. Elkfork Partners LLC bought a new stake in Cirrus Logic during the fourth quarter worth about $176,000. Finally, Soros Fund Management LLC bought a new stake in Cirrus Logic during the first quarter worth about $225,000. Institutional investors own 94.90% of the company’s stock.
Cirrus Logic, Inc. (CRUS) traded down 0.46% during trading on Tuesday, hitting $64.75. The stock had a trading volume of 233,026 shares. Cirrus Logic, Inc. has a 52-week low of $34.82 and a 52-week high of $71.97. The firm has a market cap of $4.14 billion, a P/E ratio of 16.52 and a beta of 0.03. The company has a 50-day moving average of $65.34 and a 200 day moving average of $60.17.
Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Cirrus Logic had a return on equity of 26.32% and a net margin of 16.31%. The firm had revenue of $327.86 million for the quarter, compared to analysts’ expectations of $320.94 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 41.3% compared to the same quarter last year. On average, equities research analysts predict that Cirrus Logic, Inc. will post $4.56 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Teachers Retirement System of The State of Kentucky Purchases 112,222 Shares of Cirrus Logic, Inc. (CRUS)” was originally posted by Mideast Time and is the property of of Mideast Time. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.mideasttime.com/teachers-retirement-system-of-the-state-of-kentucky-purchases-112222-shares-of-cirrus-logic-inc-crus/1814431.html.
A number of analysts recently issued reports on the company. Pacific Crest reiterated an “overweight” rating and set a $75.00 price objective on shares of Cirrus Logic in a research note on Wednesday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 1st. Stifel Nicolaus boosted their price objective on Cirrus Logic from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. restated a “market perform” rating and set a $70.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 1st. Finally, CIBC restated a “market perform” rating on shares of Cirrus Logic in a research report on Wednesday, March 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.83.
In other news, Director Christine King sold 7,000 shares of Cirrus Logic stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $63.73, for a total value of $446,110.00. Following the sale, the director now directly owns 8,126 shares of the company’s stock, valued at $517,869.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bradley J. Fluke sold 19,459 shares of Cirrus Logic stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $64.48, for a total value of $1,254,716.32. Following the completion of the sale, the vice president now directly owns 15,063 shares in the company, valued at $971,262.24. The disclosure for this sale can be found here. Insiders sold 96,858 shares of company stock worth $6,197,529 over the last ninety days. Insiders own 1.92% of the company’s stock.
Cirrus Logic Company 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.
Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUS).
Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.