Insider Selling: Cirrus Logic (NASDAQ:CRUS) EVP Sells $138,754.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $119.00, for a total transaction of $138,754.00. Following the transaction, the executive vice president directly owned 12,907 shares of the company’s stock, valued at $1,535,933. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $119.92 on Friday. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 14.68 and a beta of 1.16. Cirrus Logic, Inc. has a 1 year low of $106.26 and a 1 year high of $180.42. The stock’s 50 day simple moving average is $121.20 and its two-hundred day simple moving average is $143.98.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $459.72 million for the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, analysts anticipate that Cirrus Logic, Inc. will post 7.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRUS shares. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. KeyCorp lowered their price target on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $150.71.

Institutional Trading of Cirrus Logic

A number of institutional investors have recently bought and sold shares of CRUS. QRG Capital Management Inc. lifted its stake in shares of Cirrus Logic by 7.9% in the 2nd quarter. QRG Capital Management Inc. now owns 7,457 shares of the semiconductor company’s stock valued at $1,108,000 after purchasing an additional 545 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Cirrus Logic in the second quarter worth approximately $444,000. Sequoia Financial Advisors LLC boosted its stake in Cirrus Logic by 3.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,477 shares of the semiconductor company’s stock worth $1,111,000 after purchasing an additional 218 shares during the last quarter. Tidal Investments LLC boosted its position in Cirrus Logic by 89.1% during the second quarter. Tidal Investments LLC now owns 13,923 shares of the semiconductor company’s stock worth $2,068,000 after acquiring an additional 6,559 shares during the last quarter. Finally, Archford Capital Strategies LLC acquired a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $1,186,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

Cirrus Logic, Inc (NASDAQ: CRUS) is a fabless semiconductor company that develops high-performance, low-power integrated circuits and related software. Its products are designed to process audio and other mixed-signal information in electronic devices, helping manufacturers deliver high-quality sound, efficient power management and responsive user experiences.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, smart codecs, haptic-control solutions and other mixed-signal components.