Evergreen Capital Management LLC Has $1.62 Million Stock Position in Cirrus Logic, Inc. $CRUS

Evergreen Capital Management LLC increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 276.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,631 shares of the semiconductor company’s stock after buying an additional 10,014 shares during the period. Evergreen Capital Management LLC’s holdings in Cirrus Logic were worth $1,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diversified Trust Co lifted its position in Cirrus Logic by 0.9% during the 3rd quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock worth $1,124,000 after buying an additional 78 shares in the last quarter. Kendall Capital Management lifted its position in Cirrus Logic by 0.9% during the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after buying an additional 90 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after acquiring an additional 95 shares during the period. Fred Alger Management LLC lifted its stake in shares of Cirrus Logic by 5.0% during the third quarter. Fred Alger Management LLC now owns 2,552 shares of the semiconductor company’s stock valued at $320,000 after acquiring an additional 122 shares during the period. Finally, MML Investors Services LLC lifted its stake in shares of Cirrus Logic by 2.0% during the second quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock valued at $691,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.1%

CRUS stock opened at $169.89 on Thursday. The business’s fifty day moving average is $145.68 and its 200-day moving average is $131.93. The company has a market cap of $8.67 billion, a P/E ratio of 22.38 and a beta of 1.08. Cirrus Logic, Inc. has a twelve month low of $87.94 and a twelve month high of $173.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.51 EPS. Research analysts anticipate that Cirrus Logic, Inc. will post 7.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRUS. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Barclays upped their price target on Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus upped their price target on Cirrus Logic from $163.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. KeyCorp upped their price target on Cirrus Logic from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Finally, Benchmark upped their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $152.14.

Insider Activity

In other news, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the transaction, the executive vice president owned 5,876 shares of the company’s stock, valued at $841,208.16. This represents a 33.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Thomas sold 9,942 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the completion of the transaction, the executive vice president directly owned 30,393 shares in the company, valued at approximately $4,866,223.23. This trade represents a 24.65% 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 37,987 shares of company stock valued at $5,427,114 in the last 90 days. 1.16% of the stock is owned by company insiders.

Cirrus Logic Company 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.