Investors Sell Cirrus Logic, Inc. (CRUS) on Strength Following Insider Selling

Investors sold shares of Cirrus Logic, Inc. (NASDAQ:CRUS) on strength during trading on Wednesday after an insider sold shares in the company. $15.00 million flowed into the stock on the tick-up and $31.08 million flowed out of the stock on the tick-down, for a money net flow of $16.08 million out of the stock. Of all stocks tracked, Cirrus Logic had the 26th highest net out-flow for the day. Cirrus Logic traded up $0.11 for the day and closed at $56.88Specifically, VP Scott Arnold Anderson sold 22,466 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $64.62, for a total transaction of $1,451,752.92. Following the completion of the transaction, the vice president now directly owns 24,432 shares in the company, valued at $1,578,795.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alan R. Schuele sold 2,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $57.30, for a total value of $114,600.00. Following the transaction, the director now owns 14,165 shares of the company’s stock, valued at $811,654.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,777 shares of company stock valued at $2,803,655. 1.92% of the stock is owned by company insiders.

Several equities analysts recently commented on CRUS shares. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Cirrus Logic in a research report on Thursday, June 1st. Stifel Nicolaus boosted their target price on Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Dougherty & Co boosted their target price on Cirrus Logic from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Vetr cut Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 target price for the company. in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $68.59.

The stock has a 50 day moving average of $63.48 and a 200 day moving average of $61.50. The stock has a market capitalization of $3.65 billion, a PE ratio of 13.30 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. The firm had revenue of $320.70 million for the quarter, compared to analyst estimates of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that Cirrus Logic, Inc. will post $4.74 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. bought a new stake in shares of Cirrus Logic during the second quarter worth $102,000. Advisory Services Network LLC bought a new stake in shares of Cirrus Logic during the first quarter worth $108,000. Huntington National Bank raised its stake in shares of Cirrus Logic by 0.5% in the first quarter. Huntington National Bank now owns 2,442 shares of the semiconductor company’s stock worth $148,000 after buying an additional 11 shares during the period. Mckinley Capital Management LLC Delaware bought a new stake in shares of Cirrus Logic during the first quarter worth $174,000. Finally, Turner Investments LLC bought a new stake in shares of Cirrus Logic during the second quarter worth $220,000. 94.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Cirrus Logic

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.

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