15,100 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,100 shares of the semiconductor company’s stock, valued at approximately $1,256,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cardinal Capital Management grew its stake in Cirrus Logic by 1.2% during the 4th quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after purchasing an additional 189 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Cirrus Logic by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 53,729 shares of the semiconductor company’s stock worth $4,470,000 after purchasing an additional 703 shares in the last quarter. Allworth Financial LP boosted its position in shares of Cirrus Logic by 2.9% during the 4th quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock worth $624,000 after acquiring an additional 213 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. Finally, Oak Thistle LLC increased its holdings in shares of Cirrus Logic by 53.8% in the 4th quarter. Oak Thistle LLC now owns 12,400 shares of the semiconductor company’s stock valued at $1,032,000 after acquiring an additional 4,340 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Up 3.0 %

NASDAQ:CRUS opened at $84.47 on Tuesday. The stock’s 50 day moving average price is $90.31 and its 200 day moving average price is $81.85. The company has a market capitalization of $4.55 billion, a PE ratio of 26.82 and a beta of 1.00. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The company had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRUS shares. Stifel Nicolaus increased their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Susquehanna increased their price objective on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. Barclays increased their price objective on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $96.43.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by company insiders.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.