Callan Family Office LLC Makes New $1.25 Million Investment in Cirrus Logic, Inc. $CRUS

Callan Family Office LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,419 shares of the semiconductor company’s stock, valued at approximately $1,250,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in shares of Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after purchasing an additional 23,703 shares during the last quarter. Mach 1 Financial Group LLC acquired a new stake in Cirrus Logic during the 4th quarter worth approximately $736,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock worth $15,391,000 after acquiring an additional 11,607 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Cirrus Logic in the fourth quarter valued at about $21,988,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 valued at $31,766,000 after buying an additional 58,446 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares in the company, valued at approximately $1,042,346.13. This trade represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value 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 approximately $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 15,465 shares of company stock worth $2,399,169. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $115.33 on Monday. The company has a fifty day simple moving average of $139.15 and a 200 day simple moving average of $148.47. The firm has a market cap of $5.78 billion, a PE ratio of 14.12 and a beta of 1.18. Cirrus Logic, Inc. has a 12-month low of $109.88 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The firm had revenue of $459.72 million for the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 EPS. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 7.47 EPS for the current fiscal 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.