Municipal Employees Retirement System of Michigan trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the semiconductor company’s stock after selling 5,560 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Cirrus Logic were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in CRUS. Capstone Asset Management Co. lifted its position in shares of Cirrus Logic by 3.3% in the second quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock valued at $537,000 after acquiring an additional 270 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Cirrus Logic by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,296 shares of the semiconductor company’s stock worth $1,461,000 after purchasing an additional 1,013 shares during the last quarter. LS Investment Advisors LLC increased its holdings in shares of Cirrus Logic by 13.1% in the second quarter. LS Investment Advisors LLC now owns 6,765 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 783 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Cirrus Logic by 3.7% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the semiconductor company’s stock worth $1,054,000 after purchasing an additional 600 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Cirrus Logic by 36.3% in the second quarter. Aperio Group LLC now owns 19,720 shares of the semiconductor company’s stock worth $1,237,000 after purchasing an additional 5,256 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Shares of Cirrus Logic, Inc. (CRUS) opened at $56.45 on Friday. Cirrus Logic, Inc. has a 52 week low of $49.05 and a 52 week high of $71.97. The firm has a market capitalization of $3,593.90, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.48 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The company had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $410.32 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. equities analysts anticipate that Cirrus Logic, Inc. will post 4.21 EPS for the current fiscal year.

In other Cirrus Logic news, VP Bradley J. Fluke sold 7,325 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total transaction of $391,448.00. Following the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at $641,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine King sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the sale, the director now directly owns 16,182 shares in the company, valued at $929,170.44. The disclosure for this sale can be found here. Insiders have sold 22,863 shares of company stock worth $1,251,735 over the last three months. 1.92% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on CRUS. Zacks Investment Research cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 target price (down from $75.00) on shares of Cirrus Logic in a report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Northland Securities reaffirmed a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $67.05.

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Cirrus Logic Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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