Insider Selling: Timothy Turk Sells 61,286 Shares of Cirrus Logic Stock (CRUS)
Cirrus Logic (NASDAQ:CRUS) VP Timothy Turk unloaded 61,286 shares of Cirrus Logic stock on the open market in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.91, for a total transaction of $1,526,634.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Sterne Agee raised their price target on shares of Cirrus Logic from $25.00 to $28.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Cirrus Logic from $22.00 to $28.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Cirrus Logic from $18.00 to $24.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Cirrus Logic has an average rating of “Buy” and a consensus price target of $26.73.
Shares of Cirrus Logic (NASDAQ:CRUS) traded up 6.51% during mid-day trading on Thursday, hitting $22.43. The stock had a trading volume of 6,742,907 shares. Cirrus Logic has a 52 week low of $16.46 and a 52 week high of $36.77. The stock’s 50-day moving average is $23.39 and its 200-day moving average is $20.6. The company has a market cap of $1.423 billion and a P/E ratio of 9.49. Cirrus Logic also was the target of some unusual options trading on Tuesday. Stock traders bought 14,008 put options on the company. This represents an increase of approximately 387% compared to the average volume of 2,874 put options.
Cirrus Logic (NASDAQ:CRUS) last released its earnings data on Tuesday, October 29th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.24. The company had revenue of $190.70 million for the quarter, compared to the consensus estimate of $181.68 million. During the same quarter last year, the company posted $0.79 earnings per share. Cirrus Logic’s revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Cirrus Logic will post $2.65 earnings per share for the current fiscal year.
Cirrus Logic, Inc is a United States-based company, which supplies high-precision analog and digital signal processing components for audio and energy markets.
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