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

Atlas Capital Advisors Inc. trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 77.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,165 shares of the semiconductor company's stock after selling 4,048 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Cirrus Logic were worth $116,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $28,000. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic during the third quarter worth about $35,000. Headlands Technologies LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at about $39,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at approximately $46,000. Finally, R Squared Ltd bought a new stake in Cirrus Logic during the 4th quarter worth approximately $47,000. Institutional investors own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.

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Cirrus Logic Price Performance

CRUS stock traded up $1.42 during trading hours on Friday, reaching $86.27. The stock had a trading volume of 879,223 shares, compared to its average volume of 614,704. The stock has a market capitalization of $4.58 billion, a PE ratio of 15.66 and a beta of 0.95. The stock has a 50-day simple moving average of $100.61 and a 200 day simple moving average of $105.31. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $132.86.

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.