State Board of Administration of Florida Retirement System lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,810 shares of the semiconductor company’s stock after selling 9,236 shares during the period. State Board of Administration of Florida Retirement System owned 0.06% of Cirrus Logic worth $2,016,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRUS. Capstone Asset Management Co. increased its position in Cirrus Logic by 3.3% in the 2nd 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 during the period. Meeder Asset Management Inc. increased its position in Cirrus Logic by 19.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,087 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 654 shares during the period. James Investment Research Inc. acquired a new position in Cirrus Logic in the 2nd quarter valued at about $1,342,000. Eqis Capital Management Inc. increased its position in Cirrus Logic by 15.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 6,494 shares of the semiconductor company’s stock valued at $407,000 after acquiring an additional 857 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Cirrus Logic by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,296 shares of the semiconductor company’s stock valued at $1,461,000 after acquiring an additional 1,013 shares during the period. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Cirrus Logic, Inc. (NASDAQ:CRUS) opened at $55.26 on Friday. Cirrus Logic, Inc. has a 52-week low of $49.05 and a 52-week high of $71.97. The stock has a market capitalization of $3,487.57, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.41 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. The business had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 EPS. research analysts expect that Cirrus Logic, Inc. will post 4.28 earnings per share for the current year.

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In other news, 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 transaction of $287,100.00. Following the sale, the director now owns 16,182 shares of the company’s stock, valued at approximately $929,170.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Brannan sold 21,504 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total value of $1,184,870.40. Following the sale, the vice president now directly owns 21,504 shares in the company, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,367 shares of company stock worth $2,165,905 in the last three months. Corporate insiders own 1.92% of the company’s stock.

Several brokerages recently issued reports on CRUS. Zacks Investment Research cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Canaccord Genuity restated a “buy” rating and issued a $76.00 price target on shares of Cirrus Logic in a research report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a research report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $80.00 price target on shares of Cirrus Logic in a research report on Friday, November 3rd. Finally, Craig Hallum restated a “hold” rating and issued a $54.00 price target (down previously from $63.00) on shares of Cirrus Logic in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Cirrus Logic presently has a consensus rating of “Buy” and a consensus price target of $67.05.

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.

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

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