Teacher Retirement System of Texas Sells 7,733 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Posted by Defense World Staff on Jun 5th, 2023

Teacher Retirement System of Texas lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,115 shares of the semiconductor company’s stock after selling 7,733 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Cirrus Logic worth $2,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. increased its position in Cirrus Logic by 2.4% during the fourth quarter. Pinebridge Investments L.P. now owns 37,332 shares of the semiconductor company’s stock valued at $2,780,000 after acquiring an additional 859 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Cirrus Logic by 29.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 59,300 shares of the semiconductor company’s stock valued at $4,417,000 after buying an additional 13,541 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Cirrus Logic by 6.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 30,278 shares of the semiconductor company’s stock valued at $2,255,000 after purchasing an additional 1,787 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Cirrus Logic in the 3rd quarter worth $237,000. Finally, BRYN MAWR TRUST Co increased its position in shares of Cirrus Logic by 0.7% during the 4th quarter. BRYN MAWR TRUST Co now owns 62,396 shares of the semiconductor company’s stock worth $4,647,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. TD Cowen decreased their target price on Cirrus Logic from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. KeyCorp lowered their price objective on Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, April 24th. Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $92.00 to $80.00 in a research report on Monday, May 22nd. Stifel Nicolaus cut their target price on Cirrus Logic from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, Barclays cut their target price on Cirrus Logic from $105.00 to $90.00 in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Insider Transactions at Cirrus Logic

In related news, SVP Scott Thomas sold 10,261 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $109.65, for a total transaction of $1,125,118.65. Following the transaction, the senior vice president now owns 20,554 shares in the company, valued at $2,253,746.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $79.53 on Monday. Cirrus Logic, Inc. has a 1 year low of $61.94 and a 1 year high of $111.15. The company’s 50-day moving average is $87.57 and its 200 day moving average is $88.39. The stock has a market capitalization of $4.36 billion, a P/E ratio of 25.91, a P/E/G ratio of 12.78 and a beta of 0.97.

Cirrus Logic Profile

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Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.