Ontario Teachers Pension Plan Board Grows Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Ontario Teachers Pension Plan Board increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 27.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,044 shares of the semiconductor company’s stock after buying an additional 6,331 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cirrus Logic were worth $2,892,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Cirrus Logic by 7.3% in the 4th quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company’s stock valued at $224,728,000 after buying an additional 154,048 shares during the period. Wellington Management Group LLP boosted its holdings in Cirrus Logic by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock valued at $163,639,000 after acquiring an additional 65,441 shares during the period. Pacer Advisors Inc. increased its stake in Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares during the period. Geode Capital Management LLC lifted its position in shares of Cirrus Logic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company’s stock worth $116,684,000 after purchasing an additional 33,204 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CRUS. Benchmark reissued a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Performance

CRUS opened at $87.41 on Tuesday. The business’s 50-day simple moving average is $100.17 and its 200-day simple moving average is $104.95. The company has a market cap of $4.65 billion, a P/E ratio of 15.86 and a beta of 0.95. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

Cirrus Logic 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.