Cirrus Logic (NASDAQ:CRUS) EVP Sells 1,166 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $119.00, for a total value of $138,754.00. Following the completion of the sale, the executive vice president directly owned 12,907 shares in the company, valued at $1,535,933. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Stock Up 0.1%

CRUS stock traded up $0.07 during mid-day trading on Wednesday, reaching $120.45. The company had a trading volume of 479,321 shares, compared to its average volume of 693,919. Cirrus Logic, Inc. has a one year low of $106.26 and a one year high of $180.42. The stock has a market capitalization of $6.04 billion, a P/E ratio of 14.74 and a beta of 1.16. The stock’s 50-day simple moving average is $122.30 and its two-hundred day simple moving average is $144.32.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The business had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that Cirrus Logic, Inc. will post 7.32 EPS for the current fiscal year.

Institutional Trading of Cirrus Logic

Institutional investors have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC bought a new stake in Cirrus Logic during the second quarter worth approximately $39,000. Assenagon Asset Management S.A. increased its position 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 purchasing an additional 58,446 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Cirrus Logic in the 2nd quarter worth $2,859,000. AlphaQuest LLC lifted its holdings in shares of Cirrus Logic by 1,258.4% in the fourth quarter. AlphaQuest LLC now owns 12,416 shares of the semiconductor company’s stock valued at $1,471,000 after buying an additional 11,502 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Cirrus Logic by 286.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 35,470 shares of the semiconductor company’s stock valued at $4,203,000 after buying an additional 26,300 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRUS has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. KeyCorp decreased their price objective on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Stifel Nicolaus cut their target price on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Zacks Research cut Cirrus Logic from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, Barclays lowered their price target on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $150.71.

Cirrus Logic Company Profile

Cirrus Logic, Inc (NASDAQ: CRUS) is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.