Justin Dougherty Sells 3,000 Shares of Cirrus Logic (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 3,000 shares of Cirrus Logic 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 transaction, the executive vice president owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. The trade was a 33.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cirrus Logic Price Performance

CRUS stock opened at $144.63 on Friday. The company’s 50 day simple moving average is $126.42 and its 200-day simple moving average is $121.64. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $146.88. The firm has a market capitalization of $7.38 billion, a PE ratio of 19.06 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. The firm had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.51 EPS. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRUS. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Susquehanna lifted their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Stifel Nicolaus raised their price objective on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.43.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in shares of Cirrus Logic by 1,660.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after buying an additional 249 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the fourth quarter valued at $33,000. Torren Management LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at about $35,000. Kestra Advisory Services LLC acquired a new stake in Cirrus Logic during the fourth quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cirrus Logic in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.