Vestcor Inc Has $644,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Vestcor Inc lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,469 shares of the semiconductor company’s stock after selling 3,773 shares during the quarter. Vestcor Inc’s holdings in Cirrus Logic were worth $644,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC boosted its stake in Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Cirrus Logic by 44.0% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in 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 worth $104,049,000 after purchasing an additional 604,431 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after purchasing an additional 129,457 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.5 %

NASDAQ CRUS opened at $99.82 on Monday. The stock has a 50-day simple moving average of $103.70 and a 200 day simple moving average of $110.78. The company has a market capitalization of $5.30 billion, a PE ratio of 18.12 and a beta of 0.89. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRUS. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Wednesday, February 5th. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.86.

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.