Illinois Municipal Retirement Fund Has $4.91 Million Stock Position in Cirrus Logic, Inc. $CRUS

Illinois Municipal Retirement Fund cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,218 shares of the semiconductor company’s stock after selling 3,970 shares during the period. Illinois Municipal Retirement Fund owned 0.08% of Cirrus Logic worth $4,914,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC raised its stake in Cirrus Logic by 186.9% during the 3rd quarter. Inspire Investing LLC now owns 13,241 shares of the semiconductor company’s stock worth $1,659,000 after buying an additional 8,625 shares during the period. Thrivent Financial for Lutherans grew its stake in Cirrus Logic by 102.5% in the third quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company’s stock valued at $3,175,000 after acquiring an additional 12,828 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Cirrus Logic during the second quarter valued at approximately $270,000. CWA Asset Management Group LLC acquired a new position in shares of Cirrus Logic during the third quarter worth approximately $2,635,000. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Cirrus Logic by 852.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 22,242 shares of the semiconductor company’s stock worth $2,319,000 after purchasing an additional 19,906 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $144.63 on Friday. The company has a fifty day moving average price of $126.42 and a 200-day moving average price of $121.64. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 19.06 and a beta of 1.12. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $146.88.

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

Analyst Ratings Changes

Several analysts recently issued reports on CRUS shares. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. KeyCorp lifted their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Finally, Loop Capital cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.43.

Insider Transactions at Cirrus Logic

In related news, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was 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 in the company, valued at approximately $6,855,213.45. This represents a 30.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,045 shares of company stock worth $3,835,300 in the last 90 days. Insiders own 1.16% of the company’s stock.

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.