Cirrus Logic (NASDAQ:CRUS) EVP Sells $429,480.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president owned 5,876 shares in the company, valued at approximately $841,208.16. This trade represents a 33.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock traded up $2.58 during midday trading on Friday, hitting $144.63. The company had a trading volume of 675,713 shares, compared to its average volume of 693,454. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $146.88. The stock has a market capitalization of $7.38 billion, a P/E ratio of 19.06 and a beta of 1.12. The company has a 50 day moving average of $126.01 and a 200 day moving average of $121.24.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The business had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. During the same period in the previous year, the company posted $2.51 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRUS shares. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Susquehanna increased their target price on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Barclays lifted their target price on Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Benchmark increased their price objective on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. Hantz Financial Services Inc. lifted its stake in shares of Cirrus Logic by 1,660.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 249 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the fourth quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at approximately $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the third quarter worth approximately $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Cirrus Logic in the second quarter worth approximately $39,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

About Cirrus Logic

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.