Cirrus Logic (NASDAQ:CRUS) EVP Jeffrey Baumgartner Sells 1,458 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey Baumgartner sold 1,458 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total transaction of $212,824.26. Following the transaction, the executive vice president directly owned 16,405 shares in the company, valued at approximately $2,394,637.85. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cirrus Logic Trading Down 0.1%

CRUS opened at $146.24 on Friday. The stock has a fifty day moving average price of $164.67 and a 200-day moving average price of $146.19. Cirrus Logic, Inc. has a 12 month low of $92.02 and a 12 month high of $180.42. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 18.65 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. The business had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 earnings per share. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays upped their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a research report on Thursday, May 7th. Finally, Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.71.

Hedge Funds Weigh In On Cirrus Logic

Institutional investors have recently bought and sold shares of the company. Mach 1 Financial Group LLC purchased a new position in Cirrus Logic in the 4th quarter valued at approximately $736,000. LSV Asset Management increased its position in shares of Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after acquiring an additional 23,703 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock valued at $15,391,000 after acquiring an additional 11,607 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cirrus Logic by 2,574.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 67,791 shares of the semiconductor company’s stock valued at $8,033,000 after acquiring an additional 65,256 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at $888,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

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.