Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 773.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,510 shares of the semiconductor company’s stock after buying an additional 3,108 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Cirrus Logic were worth $448,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CRUS. State of New Jersey Common Pension Fund D increased its stake in Cirrus Logic by 5.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 32,509 shares of the semiconductor company’s stock valued at $2,704,000 after purchasing an additional 1,667 shares during the last quarter. Van ECK Associates Corp raised its stake in Cirrus Logic by 28.7% during the fourth quarter. Van ECK Associates Corp now owns 14,662 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 3,267 shares during the period. Victory Capital Management Inc. raised its position in shares of Cirrus Logic by 15.3% in the 4th quarter. Victory Capital Management Inc. now owns 11,517 shares of the semiconductor company’s stock worth $958,000 after buying an additional 1,531 shares during the period. Natixis Advisors L.P. boosted its holdings in Cirrus Logic by 24.5% in the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock valued at $5,226,000 after acquiring an additional 12,377 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Cirrus Logic by 5.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 135,608 shares of the semiconductor company’s stock valued at $11,281,000 after purchasing an additional 7,070 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 directly owns 23,975 shares in the company, valued at $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,259 shares of company stock worth $3,348,759. 1.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CRUS. Susquehanna raised their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. KeyCorp boosted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. 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. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays upped their target price on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Cirrus Logic Trading Up 0.9 %

Shares of Cirrus Logic stock opened at $145.69 on Friday. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $147.46. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 29.55 and a beta of 0.94. The business’s 50 day simple moving average is $133.26 and its 200-day simple moving average is $110.95.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

About Cirrus Logic

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.