Jeffrey Baumgartner Sells 1,166 Shares of Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey Baumgartner sold 1,166 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $138.57, for a total value of $161,572.62. Following the completion of the sale, the executive vice president directly owned 15,239 shares of the company’s stock, valued at $2,111,668.23. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Stock Performance

CRUS stock opened at $134.07 on Thursday. The stock’s 50 day simple moving average is $154.79 and its 200 day simple moving average is $148.90. The company has a market cap of $6.76 billion, a P/E ratio of 17.10 and a beta of 1.17. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same quarter last year, the firm posted $1.67 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that Cirrus Logic, Inc. will post 7.86 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CRUS shares. KeyCorp lowered their price objective on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Barclays boosted their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.29.

Institutional Trading of Cirrus Logic

Several institutional investors have recently made changes to their positions in the company. LSV Asset Management grew its position in Cirrus Logic by 1.0% in the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after purchasing an additional 23,703 shares in the last quarter. Mach 1 Financial Group LLC bought a new position in shares of Cirrus Logic during the 4th quarter worth approximately $736,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Cirrus Logic by 9.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock worth $15,391,000 after buying an additional 11,607 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $888,000. Finally, Arbejdsmarkedets Tillaegspension bought a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $21,988,000. Institutional investors own 87.96% of the company’s stock.

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.