Cirrus Logic (NASDAQ:CRUS) EVP Scott Thomas Sells 1,300 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the sale, the executive vice president owned 31,048 shares in the company, valued at $5,589,881.92. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Thomas also recently made the following trade(s):

• On Thursday, April 9th, Scott Thomas sold 9,942 shares of Cirrus Logic stock. The shares were sold at an average price of $160.11, for a total transaction of $1,591,813.62.

Cirrus Logic Stock Down 1.8%

Shares of CRUS stock traded down $3.27 during trading hours on Thursday, reaching $175.63. 370,607 shares of the stock traded hands, compared to its average volume of 642,343. The business has a fifty day moving average price of $162.32 and a 200 day moving average price of $140.43. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42. The firm has a market capitalization of $8.88 billion, a PE ratio of 22.40 and a beta of 1.15.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.26 million. During the same period in the previous year, the firm posted $1.67 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. Research analysts expect that Cirrus Logic, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a research report on Thursday, May 7th. KeyCorp boosted their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays boosted their price objective on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Benchmark boosted their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.71.

Institutional Trading of Cirrus Logic

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Cirrus Logic by 4.2% in the third quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock worth $829,724,000 after acquiring an additional 268,560 shares in the last quarter. 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 worth $279,215,000 after acquiring an additional 23,703 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Cirrus Logic by 0.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock worth $187,059,000 after acquiring an additional 11,307 shares in the last quarter. Earnest Partners LLC grew its position in Cirrus Logic by 0.8% in the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock worth $168,980,000 after acquiring an additional 10,750 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Cirrus Logic by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock worth $192,055,000 after acquiring an additional 83,897 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

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.