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.

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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