Ontario Teachers Pension Plan Board Sells 5,007 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Ontario Teachers Pension Plan Board decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,713 shares of the semiconductor company’s stock after selling 5,007 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Cirrus Logic were worth $2,821,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank lifted its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its position in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares during the period. Institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

CRUS has been the subject of several analyst reports. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays cut their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. KeyCorp raised their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Trading Down 0.5 %

NASDAQ CRUS opened at $100.58 on Wednesday. The stock has a 50-day simple moving average of $117.59 and a 200 day simple moving average of $123.34. The company has a market capitalization of $5.34 billion, a PE ratio of 17.05 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $74.80 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Cirrus Logic Company Profile

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.