Insider Selling: Cirrus Logic CFO Sells 20,000 Shares of Stock (CRUS)
Cirrus Logic (NASDAQ:CRUS) CFO Thurman K. Case unloaded 20,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $23.71, for a total value of $474,200.00. Following the transaction, the chief financial officer now directly owns 9,122 shares of the company’s stock, valued at approximately $216,283. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CRUS has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Cirrus Logic from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 16th. They now have a $25.20 price target on the stock. Analysts at Barclays raised their price target on shares of Cirrus Logic from $16.00 to $18.00 in a research note on Tuesday, July 15th. They now have an “underweight” rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Cirrus Logic presently has a consensus rating of “Hold” and an average price target of $22.89.
Cirrus Logic (NASDAQ:CRUS) traded down 0.25% during mid-day trading on Thursday, hitting $23.80. The stock had a trading volume of 526,444 shares. Cirrus Logic has a 1-year low of $16.81 and a 1-year high of $25.91. The stock has a 50-day moving average of $23. and a 200-day moving average of $21.64. The company has a market cap of $1.479 billion and a P/E ratio of 15.87.
Cirrus Logic (NASDAQ:CRUS) last released its earnings data on Wednesday, July 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The company had revenue of $152.60 million for the quarter, compared to the consensus estimate of $147.60 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Cirrus Logic will post $1.99 EPS for the current fiscal year.
Cirrus Logic, Inc (NASDAQ:CRUS) develops analog and mixed-signal integrated circuits (IC) for a broad range of consumer and industrial markets.
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