Cirrus Logic, Inc. (NASDAQ:CRUS) VP Scott Arnold Anderson sold 16,000 shares of Cirrus Logic stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $71.13, for a total value of $1,138,080.00.
Scott Arnold Anderson also recently made the following trade(s):
- On Tuesday, August 20th, Scott Arnold Anderson sold 19,818 shares of Cirrus Logic stock. The shares were sold at an average price of $54.78, for a total value of $1,085,630.04.
NASDAQ CRUS opened at $70.74 on Tuesday. The company has a quick ratio of 2.63, a current ratio of 3.38 and a debt-to-equity ratio of 0.11. Cirrus Logic, Inc. has a twelve month low of $31.25 and a twelve month high of $72.52. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91. The business’s fifty day moving average is $58.46 and its 200 day moving average is $50.09.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.61. Cirrus Logic had a return on equity of 13.04% and a net margin of 9.81%. The company had revenue of $389.00 million for the quarter, compared to the consensus estimate of $320.37 million. During the same quarter last year, the business posted $1.08 EPS. Cirrus Logic’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Cirrus Logic, Inc. will post 2.72 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management boosted its holdings in shares of Cirrus Logic by 1.6% during the 3rd quarter. Cardinal Capital Management now owns 13,019 shares of the semiconductor company’s stock valued at $697,000 after acquiring an additional 202 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cirrus Logic during the 2nd quarter valued at $33,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Cirrus Logic by 160.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,300 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 800 shares in the last quarter. BRYN MAWR TRUST Co boosted its holdings in shares of Cirrus Logic by 0.7% during the 2nd quarter. BRYN MAWR TRUST Co now owns 121,512 shares of the semiconductor company’s stock valued at $5,311,000 after acquiring an additional 847 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Cirrus Logic during the 2nd quarter valued at $44,000. 85.86% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Craig Hallum lifted their price target on Cirrus Logic from $42.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. ValuEngine lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays upgraded Cirrus Logic from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $55.00 in a research note on Thursday, October 17th. Dougherty & Co reiterated a “buy” rating and issued a $62.00 price target (up previously from $53.00) on shares of Cirrus Logic in a research note on Thursday, August 1st. Finally, Cowen lifted their price target on Cirrus Logic from $56.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $59.89.
About Cirrus Logic
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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