Healthcare of Ontario Pension Plan Trust Fund Invests $176,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,906 shares of the semiconductor company’s stock, valued at approximately $176,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp increased its stake in shares of Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after acquiring an additional 35,722 shares during the period. Sei Investments Co. boosted its holdings in Cirrus Logic by 30.8% during the fourth quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock worth $54,406,000 after buying an additional 153,946 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in Cirrus Logic by 24.5% during the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after buying an additional 12,377 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Cirrus Logic by 51.5% during the fourth quarter. BNP Paribas Financial Markets now owns 62,872 shares of the semiconductor company’s stock worth $5,230,000 after buying an additional 21,381 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Cirrus Logic during the fourth quarter worth about $27,072,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Shares of CRUS opened at $129.24 on Friday. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 26.22 and a beta of 0.94. The company’s 50 day simple moving average is $125.48 and its 200 day simple moving average is $101.77. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. Equities analysts expect that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other news, SVP Scott Thomas sold 11,706 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at $2,894,262. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total transaction of $115,850.00. Following the sale, the director now directly owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The disclosure for this sale can be found here. Insiders sold 18,706 shares of company stock valued at $2,187,098 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. TD Cowen boosted their price objective on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Friday. Barclays upped their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, Benchmark downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $128.57.

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.