Coppell Advisory Solutions LLC Buys New Shares in Cirrus Logic, Inc. $CRUS

Coppell Advisory Solutions LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,105 shares of the semiconductor company’s stock, valued at approximately $2,025,000.

Other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its stake in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Cirrus Logic by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company’s stock worth $1,564,000 after purchasing an additional 100 shares during the period. Quadrant Capital Group LLC increased its position in Cirrus Logic by 3.3% during the second quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock worth $354,000 after buying an additional 107 shares during the last quarter. Somerset Trust Co raised its stake in Cirrus Logic by 3.5% in the second quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 110 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Cirrus Logic by 4.3% in the second quarter. Farther Finance Advisors LLC now owns 2,806 shares of the semiconductor company’s stock valued at $293,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 8th. Benchmark increased their price objective on shares of Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Susquehanna raised their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Finally, Williams Trading set a $150.00 price target on shares of Cirrus Logic in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.67.

Cirrus Logic Trading Down 2.8%

Shares of NASDAQ:CRUS opened at $122.52 on Friday. The firm has a 50 day moving average of $123.42 and a 200-day moving average of $114.49. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $136.92. The stock has a market capitalization of $6.25 billion, a PE ratio of 17.40 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.32 by $0.51. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.The firm had revenue of $560.96 million during the quarter, compared to the consensus estimate of $540.45 million. During the same period last year, the company earned $2.25 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity

In related news, EVP Scott Thomas sold 734 shares of Cirrus Logic stock in a transaction on Monday, October 20th. The shares were sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the sale, the executive vice president owned 26,307 shares of the company’s stock, valued at approximately $3,452,793.75. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Brannan sold 8,913 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the completion of the transaction, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. The trade was a 59.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,100 shares of company stock valued at $3,861,510. 1.16% of the stock is owned by corporate insiders.

Cirrus Logic Company 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.