Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $56.31, for a total value of $281,550.00. Following the transaction, the director now directly owns 16,182 shares in the company, valued at approximately $911,208.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Cirrus Logic, Inc. (NASDAQ CRUS) traded down 2.35% during midday trading on Thursday, reaching $54.75. 810,763 shares of the company were exchanged. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 12.80 and a beta of 0.01. The company’s 50-day moving average price is $61.63 and its 200 day moving average price is $61.39. Cirrus Logic, Inc. has a 52-week low of $47.01 and a 52-week high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business’s revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, equities analysts predict that Cirrus Logic, Inc. will post $4.74 earnings per share for the current year.

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A number of equities analysts recently issued reports on the company. BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price target on shares of Cirrus Logic in a report on Thursday, August 3rd. Pacific Crest reissued an “overweight” rating and set a $75.00 price target on shares of Cirrus Logic in a report on Wednesday, June 21st. Finally, Barclays PLC lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price target on the stock. in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Cirrus Logic has an average rating of “Buy” and an average price target of $68.59.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new position in Cirrus Logic during the second quarter valued at about $102,000. Advisory Services Network LLC bought a new position in Cirrus Logic during the first quarter valued at about $108,000. Huntington National Bank boosted its position in Cirrus Logic by 0.5% in the first quarter. Huntington National Bank now owns 2,442 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 11 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in Cirrus Logic during the first quarter valued at about $174,000. Finally, ETRADE Capital Management LLC bought a new position in Cirrus Logic during the second quarter valued at about $201,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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