Insider Selling: Cirrus Logic (NASDAQ:CRUS) EVP Sells $935,405.44 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the transaction, the executive vice president owned 7,203 shares in the company, valued at approximately $1,042,346.13. The trade was a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Trading Up 1.5%

NASDAQ CRUS traded up $2.19 on Tuesday, reaching $148.53. 565,996 shares of the company were exchanged, compared to its average volume of 634,389. The business’s fifty day moving average price is $165.96 and its 200 day moving average price is $145.72. The stock has a market capitalization of $7.49 billion, a P/E ratio of 18.95 and a beta of 1.15. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.25 million. During the same period last year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts forecast that Cirrus Logic, Inc. will post 8.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after buying an additional 80 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Cirrus Logic by 29.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares in the last quarter. Kendall Capital Management lifted its stake in Cirrus Logic by 0.9% in the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after acquiring an additional 90 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 95 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp lifted their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Barclays increased their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $161.71.

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.