Public Employees Retirement Association of Colorado decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,486 shares of the semiconductor company’s stock after selling 2,036 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Cirrus Logic were worth $559,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hanseatic Management Services Inc. increased its position in Cirrus Logic by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 29,468 shares of the semiconductor company’s stock worth $1,848,000 after buying an additional 75 shares in the last quarter. Teacher Retirement System of Texas increased its position in Cirrus Logic by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock worth $321,000 after buying an additional 76 shares in the last quarter. World Asset Management Inc increased its position in Cirrus Logic by 2.7% in the second quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock worth $255,000 after buying an additional 106 shares in the last quarter. Capstone Asset Management Co. increased its position in Cirrus Logic by 3.3% in the second quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock worth $537,000 after buying an additional 270 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in Cirrus Logic by 2.5% in the second quarter. Suntrust Banks Inc. now owns 12,253 shares of the semiconductor company’s stock worth $767,000 after buying an additional 298 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors.

Shares of Cirrus Logic, Inc. (CRUS) opened at $55.91 on Tuesday. Cirrus Logic, Inc. has a 1 year low of $49.05 and a 1 year high of $71.97. The stock has a market capitalization of $3,609.17, a PE ratio of 12.94, a P/E/G ratio of 1.03 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. During the same quarter last year, the business posted $1.35 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. analysts expect that Cirrus Logic, Inc. will post 4.31 earnings per share for the current fiscal year.

CRUS has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price target on shares of Cirrus Logic in a research report on Thursday, August 3rd. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, August 7th. Canaccord Genuity restated a “buy” rating and issued a $76.00 price target on shares of Cirrus Logic in a research report on Tuesday, September 19th. Finally, ValuEngine upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $67.05.

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In related news, Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total transaction of $287,100.00. Following the completion of the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at $929,170.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Brannan sold 21,504 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total value of $1,184,870.40. Following the transaction, the vice president now directly owns 21,504 shares of the company’s stock, valued at $1,184,870.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,367 shares of company stock valued at $2,165,905. 1.92% of the stock is owned by corporate insiders.

About Cirrus Logic

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.

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

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