Atlas Capital Advisors Inc. Sells 4,048 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Atlas Capital Advisors Inc. decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 77.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,165 shares of the semiconductor company’s stock after selling 4,048 shares during the period. Atlas Capital Advisors Inc.’s holdings in Cirrus Logic were worth $116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in shares of Cirrus Logic by 0.7% in the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares during the period. Truvestments Capital LLC lifted its stake in Cirrus Logic by 3.5% in the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock valued at $396,000 after buying an additional 133 shares during the period. Captrust Financial Advisors boosted its holdings in Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after buying an additional 142 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after buying an additional 153 shares during the period. Finally, Bartlett & CO. Wealth Management LLC increased its stake in shares of Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 200 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 6.3 %

CRUS opened at $83.23 on Friday. The firm’s fifty day simple moving average is $102.80 and its 200 day simple moving average is $107.08. The stock has a market capitalization of $4.42 billion, a P/E ratio of 15.11 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRUS. Benchmark reissued a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays boosted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

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.