Cirrus Logic, Inc. (NASDAQ:CRUS – Get Free Report) 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 – Get Free Report) 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
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.
View Our Latest Research Report on Cirrus Logic
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.
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