EP Wealth Advisors LLC Takes $1.02 Million Position in Cirrus Logic, Inc. $CRUS

EP Wealth Advisors LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,896 shares of the semiconductor company’s stock, valued at approximately $1,024,000.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Cirrus Logic by 92.3% during the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock worth $7,189,000 after buying an additional 34,629 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cirrus Logic by 24.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 263 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cirrus Logic by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock worth $21,372,000 after acquiring an additional 9,658 shares during the last quarter. Focus Partners Wealth purchased a new stake in Cirrus Logic in the 1st quarter valued at about $361,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Andrew Brannan sold 6,464 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $144.71, for a total transaction of $935,405.44. Following the sale, the executive vice president owned 7,203 shares of the company’s stock, valued at approximately $1,042,346.13. This trade represents a 47.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $138.57, for a total value of $161,572.62. Following the sale, the executive vice president owned 15,239 shares of the company’s stock, valued at approximately $2,111,668.23. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,465 shares of company stock worth $2,399,169 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $115.33 on Monday. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 14.12 and a beta of 1.18. The stock’s 50-day moving average is $139.15 and its two-hundred day moving average is $148.47. Cirrus Logic, Inc. has a 1-year low of $109.88 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The firm had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. During the same period in the prior year, the firm earned $1.51 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Cirrus Logic, Inc. will post 7.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRUS has been the subject of several research analyst reports. KeyCorp lowered their price target on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Stifel Nicolaus cut their price target on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cirrus Logic presently has a consensus rating of “Hold” and a consensus price target of $150.71.

About Cirrus Logic

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.