Cirrus Logic, Inc. (NASDAQ:CRUS) CEO Jason P. Rhode sold 128,847 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $52.14, for a total transaction of $6,718,082.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
NASDAQ CRUS traded down $0.77 on Wednesday, hitting $52.50. 660,718 shares of the company were exchanged, compared to its average volume of 708,137. The stock has a market capitalization of $3.10 billion, a P/E ratio of 25.61, a PEG ratio of 1.79 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $60.00. The stock’s fifty day moving average is $47.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.18 and a current ratio of 4.30.
Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.21. The business had revenue of $238.25 million for the quarter, compared to analyst estimates of $221.08 million. Cirrus Logic had a net margin of 8.46% and a return on equity of 10.96%. Cirrus Logic’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 1.98 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Cirrus Logic by 9.0% in the second quarter. BlackRock Inc. now owns 8,631,614 shares of the semiconductor company’s stock valued at $377,200,000 after buying an additional 714,210 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Cirrus Logic by 3.6% in the second quarter. AQR Capital Management LLC now owns 2,801,858 shares of the semiconductor company’s stock valued at $121,236,000 after buying an additional 97,800 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cirrus Logic by 0.7% in the second quarter. Northern Trust Corp now owns 1,078,376 shares of the semiconductor company’s stock valued at $47,125,000 after buying an additional 7,946 shares in the last quarter. Norges Bank bought a new position in shares of Cirrus Logic in the fourth quarter valued at $33,900,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cirrus Logic by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 814,830 shares of the semiconductor company’s stock valued at $27,036,000 after buying an additional 32,736 shares in the last quarter. 84.86% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on CRUS shares. Craig Hallum reiterated a “hold” rating and set a $42.00 price objective (up from $38.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cirrus Logic in a research report on Monday, August 5th. Cowen reiterated a “market perform” rating and set a $56.00 price objective (up from $48.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. BidaskClub cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $50.13.
Cirrus Logic Company Profile
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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