Insider Selling: Cirrus Logic, Inc. (CRUS) Director Sells 5,000 Shares of Stock
Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $56.31, for a total transaction of $281,550.00. Following the sale, the director now directly owns 16,182 shares of the company’s stock, valued at $911,208.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Cirrus Logic, Inc. (NASDAQ CRUS) traded down 2.35% during midday trading on Thursday, hitting $54.75. 810,763 shares of the company traded hands. The stock’s 50-day moving average is $61.63 and its 200 day moving average is $61.39. Cirrus Logic, Inc. has a 12-month low of $47.01 and a 12-month high of $71.97. The stock has a market capitalization of $3.49 billion, a P/E ratio of 12.80 and a beta of 0.01.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.15. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, analysts expect that Cirrus Logic, Inc. will post $4.74 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Insider Selling: Cirrus Logic, Inc. (CRUS) Director Sells 5,000 Shares of Stock” was published by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/insider-selling-cirrus-logic-inc-crus-director-sells-5000-shares-of-stock/1500701.html.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its position in shares of Cirrus Logic by 105.0% in the second quarter. WINTON GROUP Ltd now owns 57,106 shares of the semiconductor company’s stock worth $3,582,000 after buying an additional 29,253 shares during the last quarter. Koch Industries Inc. raised its position in shares of Cirrus Logic by 3,884.7% in the second quarter. Koch Industries Inc. now owns 494,467 shares of the semiconductor company’s stock worth $487,000 after buying an additional 482,058 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Cirrus Logic by 2.4% in the second quarter. Ameritas Investment Partners Inc. now owns 24,940 shares of the semiconductor company’s stock worth $1,564,000 after buying an additional 592 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Cirrus Logic during the second quarter worth $596,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Cirrus Logic by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 141,633 shares of the semiconductor company’s stock worth $8,884,000 after buying an additional 2,886 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on CRUS shares. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, May 24th. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price for the company in a research note on Thursday, August 3rd. KeyCorp reissued an “overweight” rating and set a $75.00 target price on shares of Cirrus Logic in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Cirrus Logic in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.59.
Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.