Insider Selling: Thomas Stein Sells 4,500 Shares of Cirrus Logic Stock (CRUS)
Cirrus Logic (NASDAQ:CRUS) VP Thomas Stein unloaded 4,500 shares of Cirrus Logic stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $18.00, for a total transaction of $81,000.00. Following the sale, the vice president now directly owns 8,247 shares in the company, valued at approximately $148,446. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cirrus Logic (NASDAQ:CRUS) traded down 0.17% on Monday, hitting $17.99. 1,587,222 shares of the company’s stock traded hands. Cirrus Logic has a 1-year low of $16.46 and a 1-year high of $28.23. The stock’s 50-day moving average is $19.28 and its 200-day moving average is $21.01. The company has a market cap of $1.121 billion and a P/E ratio of 9.76.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, January 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $218.90 million for the quarter, compared to the consensus estimate of $213.30 million. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was down 29.4% on a year-over-year basis. Analysts expect that Cirrus Logic will post $2.60 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Separately, analysts at Canaccord Genuity cut their price target on shares of Cirrus Logic from $24.00 to $18.00 in a research note to investors on Wednesday, January 29th. They now have a “hold” rating on the stock. Finally, analysts at Needham & Company cut their price target on shares of Cirrus Logic from $25.00 to $21.00 in a research note to investors on Wednesday, January 29th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.04.
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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