Cirrus Logic (NASDAQ:CRUS) CEO John Forsyth Sells 21,806 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) CEO John Forsyth sold 21,806 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total value of $2,947,080.90. Following the transaction, the chief executive officer directly owned 50,723 shares in the company, valued at approximately $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $142.78 on Friday. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 18.81 and a beta of 1.12. The stock has a 50-day moving average of $124.39 and a 200 day moving average of $120.16. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $144.76.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. During the same quarter last year, the firm posted $2.51 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CRUS shares. Barclays increased their price target on Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Zacks Research raised Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research note on Monday, February 2nd. Finally, Williams Trading set a $150.00 price target on shares of Cirrus Logic in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cirrus Logic has a consensus rating of “Moderate Buy” and an average price target of $145.43.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its stake in shares of Cirrus Logic by 1,660.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 249 shares during the period. Ameritas Advisory Services LLC purchased a new position in Cirrus Logic during the second quarter valued at approximately $31,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $33,000. Torren Management LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cirrus Logic in the second quarter worth $39,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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.