Atlas Capital Advisors Inc. Buys New Stake in Cirrus Logic, Inc. $CRUS

Atlas Capital Advisors Inc. bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,642 shares of the semiconductor company’s stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC grew its holdings in shares of Cirrus Logic by 6.2% in the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Cirrus Logic by 29.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 88 shares in the last quarter. Kendall Capital Management grew its holdings in shares of Cirrus Logic by 0.9% in the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock valued at $1,256,000 after purchasing an additional 90 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Cirrus Logic by 1.7% in the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in Cirrus Logic by 5.0% in the third quarter. Fred Alger Management LLC now owns 2,552 shares of the semiconductor company’s stock worth $320,000 after buying an additional 122 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRUS has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a research report on Thursday, May 7th. Finally, KeyCorp raised their price target on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.71.

Cirrus Logic Trading Up 1.1%

NASDAQ:CRUS opened at $165.94 on Tuesday. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $180.42. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 21.17 and a beta of 1.15. The stock has a fifty day simple moving average of $165.62 and a 200-day simple moving average of $143.16.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.26 million. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total transaction of $159,000.00. Following the completion of the sale, the director directly owned 20,531 shares in the company, valued at approximately $3,264,429. This trade represents a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the transaction, the chief executive officer owned 70,016 shares in the company, valued at approximately $11,931,426.56. This represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 23,149 shares of company stock valued at $3,828,401. 1.20% of the stock is owned by company insiders.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.