Shares of Cirrus Logic Inc. (NASDAQ:CRUS) hit a new 52-week high on Tuesday . The company traded as high as $41.77 and last traded at $40.76, with a volume of 458,890 shares changing hands. The stock had previously closed at $40.18.

A number of analysts recently weighed in on CRUS shares. Pacific Crest reissued a “buy” rating and issued a $40.00 price target on shares of Cirrus Logic in a report on Thursday, April 14th. Needham & Company LLC reissued a “buy” rating on shares of Cirrus Logic in a report on Wednesday, April 27th. Oppenheimer Holdings Inc. reissued an “outperform” rating on shares of Cirrus Logic in a report on Wednesday, April 27th. Barclays PLC lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $37.00 to $35.00 in a report on Thursday, May 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price target (up previously from $44.00) on shares of Cirrus Logic in a report on Wednesday, June 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.55.

The firm has a 50-day moving average price of $38.40 and a 200 day moving average price of $34.94. The stock has a market cap of $2.53 billion and a P/E ratio of 21.783.

In related news, CEO Jason P. Rhode sold 50,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $34.41, for a total transaction of $1,720,500.00. Following the transaction, the chief executive officer now directly owns 179,680 shares of the company’s stock, valued at $6,182,788.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randolph K. Carlson sold 12,120 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $36.22, for a total transaction of $438,986.40. Following the transaction, the vice president now directly owns 19,385 shares in the company, valued at $702,124.70. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its position in Cirrus Logic by 74.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 950,130 shares of the company’s stock worth $28,057,000 after buying an additional 404,178 shares during the last quarter. Airain ltd raised its position in Cirrus Logic by 319.6% in the fourth quarter. Airain ltd now owns 119,473 shares of the company’s stock worth $3,528,000 after buying an additional 91,001 shares during the last quarter. Systematic Financial Management LP raised its position in Cirrus Logic by 71.9% in the fourth quarter. Systematic Financial Management LP now owns 2,392,267 shares of the company’s stock worth $70,643,000 after buying an additional 1,000,294 shares during the last quarter. Eaton Vance Management purchased a new position in Cirrus Logic during the fourth quarter worth $12,991,000. Finally, Burney Co. raised its position in Cirrus Logic by 53.8% in the fourth quarter. Burney Co. now owns 232,743 shares of the company’s stock worth $7,327,000 after buying an additional 81,391 shares during the last quarter.

Cirrus Logic, Inc (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration.

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