Cirrus Logic, Inc. (CRUS) Director Christine King Sells 5,000 Shares
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.
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