Atlas Capital Advisors LLC Increases Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Atlas Capital Advisors LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 103.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 402 shares of the semiconductor company’s stock after buying an additional 204 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Cirrus Logic were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRUS. Norges Bank purchased a new stake in Cirrus Logic in the 4th quarter worth $51,890,000. Balyasny Asset Management L.P. boosted its position in shares of Cirrus Logic by 307.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock valued at $58,777,000 after acquiring an additional 533,019 shares during the last quarter. Kodai Capital Management LP purchased a new position in shares of Cirrus Logic in the fourth quarter valued at $27,072,000. Kettle Hill Capital Management LLC bought a new stake in Cirrus Logic in the third quarter worth $14,442,000. Finally, Sei Investments Co. raised its stake in Cirrus Logic by 30.8% during the fourth quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock valued at $54,406,000 after purchasing an additional 153,946 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.0 %

Shares of CRUS opened at $126.81 on Friday. The firm has a fifty day moving average price of $109.36 and a 200-day moving average price of $94.33. The firm has a market capitalization of $6.78 billion, a P/E ratio of 25.72 and a beta of 0.97. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $128.64.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The company had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. Analysts predict that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. TD Cowen upped their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp lifted their target price on Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Stifel Nicolaus increased their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total transaction of $115,850.00. Following the transaction, the director now owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction dated 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 owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,706 shares of company stock worth $2,187,098. Company insiders own 1.02% of the company’s stock.

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.