Cirrus Logic, Inc. (NASDAQ:CRUS) Director William D. Sherman sold 180 shares of Cirrus Logic stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $55.80, for a total value of $10,044.00. Following the transaction, the director now owns 5,232 shares of the company’s stock, valued at approximately $291,945.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The firm had revenue of $425.50 million during the quarter, compared to analyst estimates of $410.32 million. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year.

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Several institutional investors and hedge funds have recently modified their holdings of CRUS. OppenheimerFunds Inc. lifted its holdings in shares of Cirrus Logic by 63.8% during the 1st quarter. OppenheimerFunds Inc. now owns 7,559 shares of the semiconductor company’s stock valued at $459,000 after purchasing an additional 2,944 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Cirrus Logic by 28.1% during the 1st quarter. Legal & General Group Plc now owns 41,194 shares of the semiconductor company’s stock valued at $2,496,000 after purchasing an additional 9,041 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cirrus Logic during the 1st quarter valued at $411,000. Bank of America Corp DE lifted its holdings in shares of Cirrus Logic by 18.9% during the 1st quarter. Bank of America Corp DE now owns 242,781 shares of the semiconductor company’s stock valued at $14,735,000 after purchasing an additional 38,601 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Cirrus Logic by 5.8% during the 1st quarter. State Street Corp now owns 2,226,243 shares of the semiconductor company’s stock valued at $135,107,000 after purchasing an additional 122,309 shares during the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

CRUS has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, October 3rd. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Craig Hallum reiterated a “hold” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cirrus Logic in a research note on Thursday, September 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $67.69.

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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