Insider Selling: Cirrus Logic (NASDAQ:CRUS) EVP Sells 2,000 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 2,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $166.50, for a total value of $333,000.00. Following the completion of the sale, the executive vice president directly owned 4,537 shares in the company, valued at approximately $755,410.50. This represents a 30.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cirrus Logic Stock Performance

Cirrus Logic stock traded up $7.13 on Tuesday, reaching $178.30. The company’s stock had a trading volume of 463,593 shares, compared to its average volume of 648,724. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 22.74 and a beta of 1.16. The business’s fifty day moving average price is $157.02 and its 200 day moving average price is $137.78. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $179.00.

Cirrus Logic (NASDAQ:CRUS) last posted 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. The company had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 earnings per share. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 8.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CRUS. Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research note on Monday, February 2nd. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. KeyCorp boosted their price objective 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 reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Finally, Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.71.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors and hedge funds have recently made changes to their positions in CRUS. Caitong International Asset Management Co. Ltd raised its position in shares of Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Cirrus Logic by 120.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 120 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic during the fourth quarter worth $33,000. Torren Management LLC bought a new stake in shares of Cirrus Logic during the fourth quarter worth $35,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Cirrus Logic during the fourth quarter worth $36,000. Institutional investors own 87.96% of the company’s stock.

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.