Cirrus Logic (NASDAQ:CRUS) EVP Justin Dougherty Sells 3,000 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cirrus Logic Stock Performance

Shares of CRUS stock traded up $2.58 on Friday, hitting $144.63. 675,713 shares of the company’s stock traded hands, compared to its average volume of 693,454. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.06 and a beta of 1.12. The company’s fifty day simple moving average is $126.01 and its 200 day simple moving average is $121.24. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. During the same period last year, the firm earned $2.51 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays raised their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Benchmark upped their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research note on Monday, February 2nd. One research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.43.

Hedge Funds Weigh In On Cirrus Logic

A number of institutional investors have recently bought and sold shares of CRUS. Hantz Financial Services Inc. grew its holdings in shares of Cirrus Logic by 1,660.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 249 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic in the 4th quarter valued at approximately $33,000. Torren Management LLC bought a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the third quarter worth $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth about $39,000. 87.96% of the stock is owned by institutional investors.

About Cirrus Logic

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.