Cirrus Logic VP Unloads $90,450 in Stock (CRUS)
Cirrus Logic (NASDAQ:CRUS) VP Thomas Stein sold 4,500 shares of the company’s stock on the open market in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.10, for a total transaction of $90,450.00. Following the completion of the transaction, the vice president now directly owns 8,247 shares of the company’s stock, valued at approximately $165,765. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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.
Several analysts have recently commented on the stock. Analysts at Oppenheimer downgraded shares of Cirrus Logic from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, December 16th. Separately, analysts at Sterne Agee cut their price target on shares of Cirrus Logic from $28.00 to $24.00 in a research note to investors on Tuesday, November 12th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company cut their EPS estimates on shares of Cirrus Logic in a research note on Monday. They now have a “buy” rating and a $26.00 price target on the stock. They previously had a $28.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $24.41.
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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