Cirrus Logic (NASDAQ:CRUS) EVP Sells $458,739.57 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the sale, the executive vice president owned 30,393 shares in the company, valued at $4,304,560.59. The trade was a 9.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cirrus Logic Stock Performance

CRUS stock traded up $2.58 during trading on Friday, reaching $144.63. The company had a trading volume of 675,713 shares, compared to its average volume of 693,454. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 19.06 and a beta of 1.12. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $146.88. The firm has a 50-day simple moving average of $126.01 and a 200-day simple moving average of $121.24.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The business had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. During the same quarter last year, the company posted $2.51 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Hedge Funds Weigh In On Cirrus Logic

Large investors have recently made changes to their positions in the company. Inspire Investing LLC raised its stake in Cirrus Logic by 186.9% during the third quarter. Inspire Investing LLC now owns 13,241 shares of the semiconductor company’s stock worth $1,659,000 after purchasing an additional 8,625 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Cirrus Logic by 102.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company’s stock valued at $3,175,000 after buying an additional 12,828 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth approximately $270,000. CWA Asset Management Group LLC purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at approximately $2,635,000. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Cirrus Logic by 852.1% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 22,242 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 19,906 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRUS. Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Monday, February 2nd. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Susquehanna raised their price target on shares of Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Barclays upped their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Finally, KeyCorp increased their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.43.

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.