Coppell Advisory Solutions LLC Purchases New Position in Cirrus Logic, Inc. $CRUS

Coppell Advisory Solutions LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the second quarter, HoldingsChannel.com reports. The fund acquired 26,096 shares of the semiconductor company’s stock, valued at approximately $39,000.

A number of other large investors have also modified their holdings of CRUS. LSV Asset Management grew its position in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after acquiring an additional 23,703 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in shares of Cirrus Logic in the fourth quarter valued at $736,000. Arbejdsmarkedets Tillaegspension acquired a new stake in Cirrus Logic during the 4th quarter valued at $21,988,000. Assenagon Asset Management S.A. increased its stake in Cirrus Logic by 37.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 213,871 shares of the semiconductor company’s stock worth $31,766,000 after buying an additional 58,446 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Cirrus Logic by 2,574.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 67,791 shares of the semiconductor company’s stock worth $8,033,000 after buying an additional 65,256 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CRUS shares. KeyCorp lowered their target price on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Barclays lowered their price objective on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Zacks Research lowered Cirrus Logic from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Wall Street Zen cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.71.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 1,458 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total value of $212,824.26. Following the transaction, the executive vice president directly owned 16,405 shares in the company, valued at approximately $2,394,637.85. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $144.71, for a total transaction of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares of the company’s stock, valued at $1,042,346.13. This trade represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,424 shares of company stock worth $1,644,091 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Cirrus Logic Stock Up 0.1%

Shares of Cirrus Logic stock opened at $113.13 on Friday. The business has a 50-day moving average price of $130.05 and a 200 day moving average price of $146.68. Cirrus Logic, Inc. has a fifty-two week low of $106.26 and a fifty-two week high of $180.42. The firm has a market cap of $5.67 billion, a P/E ratio of 13.85 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The company had revenue of $459.72 million for the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.Cirrus Logic’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 7.32 earnings per share for the current year.

Cirrus Logic 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.