Cirrus Logic, Inc. (NASDAQ:CRUS) VP Carl Jackson Alberty Sells 2,000 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) VP Carl Jackson Alberty sold 2,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the transaction, the vice president now directly owns 38,507 shares of the company’s stock, valued at $4,364,768.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cirrus Logic Stock Up 0.8 %

NASDAQ:CRUS opened at $114.62 on Thursday. The stock’s 50 day moving average price is $93.52 and its two-hundred day moving average price is $86.30. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 23.25 and a beta of 0.99. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $115.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRUS shares. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. TD Cowen increased their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp increased their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Barclays increased their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

Institutional Trading of Cirrus Logic

Institutional investors and hedge funds have recently bought and sold shares of the business. Burney Co. increased its stake in shares of Cirrus Logic by 7.3% during the first quarter. Burney Co. now owns 33,315 shares of the semiconductor company’s stock worth $3,084,000 after purchasing an additional 2,253 shares during the period. EMC Capital Management increased its stake in shares of Cirrus Logic by 73.3% during the first quarter. EMC Capital Management now owns 3,688 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 1,560 shares during the period. Comerica Bank increased its stake in shares of Cirrus Logic by 52.7% during the first quarter. Comerica Bank now owns 35,067 shares of the semiconductor company’s stock worth $3,246,000 after purchasing an additional 12,101 shares during the period. Tidal Investments LLC bought a new position in shares of Cirrus Logic during the first quarter worth approximately $219,000. Finally, Motley Fool Asset Management LLC bought a new position in shares of Cirrus Logic during the first quarter worth approximately $376,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.