Atlas Capital Advisors Inc. Buys Shares of 3,642 Cirrus Logic, Inc. $CRUS

Atlas Capital Advisors Inc. bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,642 shares of the semiconductor company’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Cirrus Logic in the 4th quarter worth approximately $69,674,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Cirrus Logic by 546.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock worth $46,005,000 after purchasing an additional 328,159 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Cirrus Logic by 33.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after purchasing an additional 269,391 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock worth $829,724,000 after purchasing an additional 268,560 shares during the period. Finally, Arbejdsmarkedets Tillaegspension bought a new position in shares of Cirrus Logic in the 4th quarter worth approximately $21,988,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.1%

Cirrus Logic stock opened at $165.94 on Tuesday. The firm has a 50 day moving average of $165.62 and a 200 day moving average of $143.16. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 21.17 and a beta of 1.15. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The business had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.26 million. During the same period last year, the firm posted $1.67 EPS. The company’s revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This trade represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total transaction of $658,485.78. Following the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. This trade represents a 18.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 23,149 shares of company stock worth $3,828,401. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRUS. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays increased their price objective on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. KeyCorp increased their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.71.

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.