Cirrus Logic, Inc. (CRUS) Director Christine King Sells 5,000 Shares of Stock
Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $57.42, for a total transaction of $287,100.00. Following the completion of the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at $929,170.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Christine King also recently made the following trade(s):
- On Tuesday, August 15th, Christine King sold 5,000 shares of Cirrus Logic stock. The shares were sold at an average price of $56.31, for a total transaction of $281,550.00.
Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) opened at 56.82 on Wednesday. The company has a market capitalization of $3.63 billion and a P/E ratio of 13.29. The stock’s 50 day moving average price is $56.87 and its 200 day moving average price is $61.54. Cirrus Logic, Inc. has a 52-week low of $49.05 and a 52-week high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. On average, equities research analysts forecast that Cirrus Logic, Inc. will post $4.74 earnings per share for the current fiscal year.
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A number of research analysts recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Tuesday. ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America Corporation initiated coverage on shares of Cirrus Logic in a research note on Monday. They set an “underperform” rating and a $50.00 price objective for the company. Craig Hallum reaffirmed a “hold” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Cirrus Logic in a research note on Thursday, September 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Cirrus Logic presently has a consensus rating of “Buy” and a consensus price target of $67.83.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. King Luther Capital Management Corp purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $1,101,000. Evanston Investments Inc. dba Evanston Advisors purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $1,254,000. State of Tennessee Treasury Department grew its holdings in shares of Cirrus Logic by 135.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 211,710 shares of the semiconductor company’s stock worth $13,278,000 after purchasing an additional 121,710 shares during the period. Soros Fund Management LLC purchased a new position in shares of Cirrus Logic during the 1st quarter worth $225,000. Finally, Capital One National Association grew its holdings in shares of Cirrus Logic by 8.0% during the 2nd quarter. Capital One National Association now owns 39,549 shares of the semiconductor company’s stock worth $2,481,000 after purchasing an additional 2,938 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.
Cirrus Logic Company Profile
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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