Jeffrey W. Baumgartner Sells 2,051 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $104.41 on Friday. The firm has a market capitalization of $5.55 billion, a PE ratio of 17.70 and a beta of 0.91. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The firm’s 50-day moving average is $102.49 and its two-hundred day moving average is $116.08.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. Analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Institutional Trading of Cirrus Logic

Hedge funds have recently modified their holdings of the stock. Huntington National Bank grew its stake in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth approximately $31,000. Westside Investment Management Inc. acquired a new stake in Cirrus Logic in the third quarter valued at approximately $35,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the fourth quarter worth approximately $28,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday. Barclays raised their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Susquehanna upped their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

About Cirrus Logic

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.