Cirrus Logic (NASDAQ:CRUS) EVP Sells $212,824.26 in Stock

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

Cirrus Logic Trading Down 0.1%

CRUS stock traded down $0.18 during trading on Thursday, reaching $146.24. The stock had a trading volume of 729,614 shares, compared to its average volume of 635,281. The firm has a fifty day moving average price of $165.14 and a 200 day moving average price of $146.02. The company has a market capitalization of $7.38 billion, a P/E ratio of 18.65 and a beta of 1.17. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42.

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

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently bought and sold shares of CRUS. Parallel Advisors LLC grew its position in shares of Cirrus Logic by 6.2% in the 4th quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares in the last quarter. Kendall Capital Management lifted its stake in Cirrus Logic by 0.9% during the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 90 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Cirrus Logic by 1.7% in the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares during the period. Finally, Diversified Trust Co boosted its holdings in Cirrus Logic by 1.1% in the first quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several analyst reports. KeyCorp lifted their price objective on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Barclays lifted their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.71.

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.