Cirrus Logic, Inc. (NASDAQ:CRUS) CFO Thurman K. Case sold 5,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $52.34, for a total value of $261,700.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NASDAQ CRUS traded down $0.77 during trading on Wednesday, hitting $52.50. 660,718 shares of the company traded hands, compared to its average volume of 708,137. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $60.00. The business’s fifty day simple moving average is $47.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.30 and a quick ratio of 3.18. The company has a market cap of $3.10 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.79 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.21. Cirrus Logic had a return on equity of 10.96% and a net margin of 8.46%. The company had revenue of $238.25 million for the quarter, compared to analyst estimates of $221.08 million. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that Cirrus Logic, Inc. will post 1.98 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trexquant Investment LP raised its holdings in Cirrus Logic by 295.4% during the first quarter. Trexquant Investment LP now owns 30,851 shares of the semiconductor company’s stock valued at $1,298,000 after buying an additional 23,048 shares in the last quarter. Strs Ohio raised its holdings in Cirrus Logic by 1,068.0% during the first quarter. Strs Ohio now owns 29,200 shares of the semiconductor company’s stock valued at $1,228,000 after buying an additional 26,700 shares in the last quarter. Texas Permanent School Fund raised its holdings in Cirrus Logic by 2.5% during the first quarter. Texas Permanent School Fund now owns 40,156 shares of the semiconductor company’s stock valued at $1,689,000 after buying an additional 995 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Cirrus Logic by 406.6% during the first quarter. Acadian Asset Management LLC now owns 42,206 shares of the semiconductor company’s stock valued at $1,776,000 after buying an additional 33,875 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Cirrus Logic by 87.1% during the first quarter. SG Americas Securities LLC now owns 24,926 shares of the semiconductor company’s stock valued at $1,049,000 after buying an additional 11,603 shares in the last quarter. Institutional investors own 84.86% of the company’s stock.

Several analysts recently issued reports on the company. Dougherty & Co reiterated a “buy” rating and set a $62.00 price objective (up from $53.00) on shares of Cirrus Logic in a report on Thursday, August 1st. ValuEngine upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Craig Hallum reiterated a “hold” rating and set a $42.00 price objective (up from $38.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Cirrus Logic from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Cirrus Logic currently has a consensus rating of “Hold” and an average price target of $50.13.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

Recommended Story: Discount Rate

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.