Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells 1,823 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) VP Carl Jackson Alberty sold 1,823 shares of Cirrus Logic stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $88.24, for a total value of $160,861.52. Following the sale, the vice president now directly owns 33,014 shares in the company, valued at approximately $2,913,155.36. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cirrus Logic Trading Down 2.2 %

Shares of NASDAQ CRUS traded down $1.94 during mid-day trading on Friday, reaching $85.78. The company had a trading volume of 445,710 shares, compared to its average volume of 465,208. The stock has a market cap of $4.79 billion, a PE ratio of 14.82, a P/E/G ratio of 5.93 and a beta of 0.97. The company has a 50-day moving average price of $76.75 and a two-hundred day moving average price of $80.14. Cirrus Logic, Inc. has a 1-year low of $67.03 and a 1-year high of $95.84.

Cirrus Logic (NASDAQ:CRUSGet Rating) last issued its earnings results on Tuesday, May 3rd. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. The business had revenue of $498.97 million for the quarter, compared to analysts’ expectations of $420.19 million. Cirrus Logic had a return on equity of 24.68% and a net margin of 18.38%. The company’s quarterly revenue was up 70.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. On average, research analysts expect that Cirrus Logic, Inc. will post 4.63 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds have recently modified their holdings of CRUS. Janney Montgomery Scott LLC acquired a new position in shares of Cirrus Logic in the 4th quarter worth $240,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Cirrus Logic in the 4th quarter worth $9,570,000. Yousif Capital Management LLC acquired a new position in shares of Cirrus Logic in the 4th quarter worth $2,720,000. CWM LLC acquired a new position in shares of Cirrus Logic in the 4th quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cirrus Logic by 21.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,952 shares of the semiconductor company’s stock valued at $824,000 after buying an additional 1,571 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CRUS shares. Benchmark cut their target price on Cirrus Logic from $100.00 to $95.00 in a research note on Wednesday, May 4th. Needham & Company LLC lifted their target price on Cirrus Logic from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Cowen lifted their price target on Cirrus Logic from $90.00 to $100.00 in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on Cirrus Logic from $112.00 to $120.00 in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.60.

Cirrus Logic Company Profile

(Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including 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 digital signal processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

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Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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