Cirrus Logic (NASDAQ:CRUS) EVP Sells $234,052.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 1,300 shares of Cirrus Logic stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the sale, the executive vice president owned 31,048 shares of the company’s stock, valued at approximately $5,589,881.92. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Thomas also recently made the following trade(s):

• On Thursday, April 9th, Scott Thomas sold 9,942 shares of Cirrus Logic stock. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $164.40 on Friday. The company has a market cap of $8.29 billion, a PE ratio of 20.97 and a beta of 1.15. Cirrus Logic, Inc. has a 12 month low of $92.02 and a 12 month high of $180.42. The company has a 50-day simple moving average of $163.40 and a 200-day simple moving average of $140.99.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly 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 $442.26 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRUS. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a research report on Thursday, May 7th. KeyCorp raised their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Barclays upped their price target 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. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cirrus Logic by 4.2% during the third quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after buying an additional 268,560 shares in the last quarter. LSV Asset Management lifted its position in Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after buying an additional 23,703 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Cirrus Logic by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock valued at $187,059,000 after buying an additional 11,307 shares in the last quarter. Earnest Partners LLC lifted its position in Cirrus Logic by 0.8% during the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock valued at $168,980,000 after buying an additional 10,750 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cirrus Logic by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock valued at $192,055,000 after buying an additional 83,897 shares in the last quarter. 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.