Alexander Davern Sells 1,000 Shares of Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) Director Alexander Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total value of $159,000.00. Following the sale, the director owned 20,531 shares of the company’s stock, valued at $3,264,429. The trade was a 4.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cirrus Logic Trading Up 0.4%

NASDAQ CRUS traded up $0.61 during trading on Thursday, reaching $166.62. 459,618 shares of the company’s stock were exchanged, compared to its average volume of 653,055. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $179.00. The firm has a market capitalization of $8.50 billion, a PE ratio of 21.25 and a beta of 1.16. The company’s fifty day simple moving average is $154.88 and its 200-day simple moving average is $136.97.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.26 million. During the same period last year, the company posted $1.67 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Cirrus Logic, Inc. will post 8.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRUS. Royal Bank of Canada raised its stake in shares of Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after acquiring an additional 34,629 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cirrus Logic by 24.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 263 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cirrus Logic by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock valued at $21,372,000 after acquiring an additional 9,658 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Cirrus Logic in the 1st quarter valued at approximately $361,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRUS has been the subject of a number of research reports. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays raised their price objective on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. KeyCorp raised their price target on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Finally, Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $161.71.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.