Cirrus Logic (NASDAQ:CRUS) EVP Sells $935,405.44 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Andrew Brannan sold 6,464 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the transaction, the executive vice president owned 7,203 shares in the company, valued at approximately $1,042,346.13. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Price Performance

CRUS stock opened at $146.24 on Friday. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42. The firm has a market capitalization of $7.38 billion, a PE ratio of 18.65 and a beta of 1.17. The business has a 50 day simple moving average of $164.67 and a 200-day simple moving average of $146.19.

Cirrus Logic (NASDAQ:CRUS) last announced 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 firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. On average, equities research analysts expect that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analyst Ratings Changes

CRUS has been the topic of several recent research reports. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a research note on Thursday, May 7th. KeyCorp boosted their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Finally, Barclays raised their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Cirrus Logic has a consensus rating of “Moderate Buy” and an average price target of $161.71.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. LSV Asset Management boosted its stake in Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after buying an additional 23,703 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Cirrus Logic by 0.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock valued at $187,059,000 after acquiring an additional 11,307 shares during the period. Earnest Partners LLC lifted its holdings in shares of Cirrus Logic by 0.8% in the 3rd quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock worth $168,980,000 after acquiring an additional 10,750 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cirrus Logic by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock worth $192,055,000 after acquiring an additional 83,897 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Cirrus Logic by 33.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after purchasing an additional 269,391 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.