Cirrus Logic (NASDAQ:CRUS) EVP Jeffrey Baumgartner Sells 1,166 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey Baumgartner sold 1,166 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $107.75, for a total transaction of $125,636.50. Following the transaction, the executive vice president directly owned 11,741 shares in the company, valued at approximately $1,265,092.75. The trade was a 9.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Stock Down 0.2%

CRUS stock opened at $110.64 on Thursday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 13.54 and a beta of 1.17. Cirrus Logic, Inc. has a 12 month low of $105.10 and a 12 month high of $180.42. The firm has a 50 day moving average of $114.98 and a two-hundred day moving average of $140.79.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. The company had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 EPS. On average, research analysts expect that Cirrus Logic, Inc. will post 7.20 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Sunday. Barclays cut Cirrus Logic from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $130.00 to $95.00 in a research report on Tuesday. Zacks Research downgraded Cirrus Logic from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Weiss Ratings raised Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, KeyCorp downgraded Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $147.86.

Institutional Trading of Cirrus Logic

Large investors have recently modified their holdings of the company. Cardinal Capital Management raised its holdings in Cirrus Logic by 5.2% in the 3rd quarter. Cardinal Capital Management now owns 25,520 shares of the semiconductor company’s stock worth $3,062,000 after acquiring an additional 1,267 shares during the period. Quadrant Capital Group LLC lifted its position in Cirrus Logic by 4.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,938 shares of the semiconductor company’s stock worth $472,000 after acquiring an additional 170 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Cirrus Logic by 98.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,444 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 718 shares during the period. CWA Asset Management Group LLC boosted its holdings in Cirrus Logic by 0.8% during the third quarter. CWA Asset Management Group LLC now owns 27,455 shares of the semiconductor company’s stock valued at $3,294,000 after acquiring an additional 209 shares during the period. Finally, Cordatus Wealth Management LLC bought a new stake in Cirrus Logic during the third quarter valued at about $342,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Company Profile

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.