Louisiana State Employees Retirement System Takes Position in Cirrus Logic, Inc. $CRUS

Louisiana State Employees Retirement System bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,800 shares of the semiconductor company’s stock, valued at approximately $2,140,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC grew its position in Cirrus Logic by 6.2% in the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 80 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 88 shares in the last quarter. Kendall Capital Management grew its holdings in shares of Cirrus Logic by 0.9% in the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 90 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares in the last quarter. Finally, Diversified Trust Co increased its position in shares of Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.1%

Shares of NASDAQ:CRUS opened at $146.35 on Tuesday. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42. The stock has a market capitalization of $7.38 billion, a P/E ratio of 18.67 and a beta of 1.15. The business has a 50-day moving average price of $165.96 and a two-hundred day moving average price of $145.72.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The company had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.25 million. During the same quarter last year, the firm earned $1.67 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts predict that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total transaction of $658,485.78. Following the completion of the sale, the executive vice president owned 17,575 shares in the company, valued at approximately $2,962,090.50. The trade was a 18.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total value of $159,000.00. Following the completion of the transaction, the director directly owned 20,531 shares in the company, valued at approximately $3,264,429. This trade represents a 4.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,319 shares of company stock valued at $4,025,230 over the last three months. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRUS shares. KeyCorp upped their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a report on Thursday, May 7th. Finally, Barclays lifted their price objective on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.71.

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.