Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells $591,774.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock opened at $141.43 on Friday. The business’s 50 day simple moving average is $129.59 and its 200 day simple moving average is $106.86. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $142.83. The firm has a market cap of $7.56 billion, a PE ratio of 28.69 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The firm had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Cirrus Logic by 30.8% during the 4th quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock worth $54,406,000 after acquiring an additional 153,946 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Cirrus Logic by 24.5% during the 4th quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after acquiring an additional 12,377 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Cirrus Logic by 51.5% during the 4th quarter. BNP Paribas Financial Markets now owns 62,872 shares of the semiconductor company’s stock worth $5,230,000 after acquiring an additional 21,381 shares during the period. Finally, Kodai Capital Management LP bought a new position in shares of Cirrus Logic during the 4th quarter worth approximately $27,072,000. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CRUS. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Susquehanna raised their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. KeyCorp raised their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. TD Cowen raised their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Barclays raised their price target on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.33.

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.