Cirrus Logic (NASDAQ:CRUS) EVP Justin Dougherty Sells 3,000 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cirrus Logic Trading Up 1.8%

Shares of CRUS opened at $144.63 on Friday. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $146.88. The firm’s 50-day moving average price is $126.42 and its 200-day moving average price is $121.52. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.06 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. Cirrus Logic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.51 earnings per share. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRUS shares. Stifel Nicolaus upped their price target on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Susquehanna boosted their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Williams Trading set a $150.00 price target on shares of Cirrus Logic in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.43.

Hedge Funds Weigh In On Cirrus Logic

Several large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new stake in Cirrus Logic during the 4th quarter valued at about $36,000. Stifel Financial Corp raised its holdings in Cirrus Logic by 97.2% in the fourth quarter. Stifel Financial Corp now owns 69,913 shares of the semiconductor company’s stock worth $8,285,000 after buying an additional 34,454 shares during the last quarter. Bridgefront Capital LLC lifted its stake in shares of Cirrus Logic by 4.9% in the fourth quarter. Bridgefront Capital LLC now owns 4,384 shares of the semiconductor company’s stock worth $520,000 after buying an additional 205 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $1,671,000. Finally, Morgan Stanley grew its holdings in shares of Cirrus Logic by 2.9% during the fourth quarter. Morgan Stanley now owns 629,527 shares of the semiconductor company’s stock valued at $74,599,000 after buying an additional 17,945 shares during the last quarter. Hedge funds and other 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.