Cirrus Logic (NASDAQ:CRUS) EVP Sells $429,480.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Justin Dougherty sold 3,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $144.63 on Monday. The business has a fifty day moving average price of $126.42 and a 200-day moving average price of $121.76. The company has a market capitalization of $7.38 billion, a PE ratio of 19.06 and a beta of 1.12. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. Cirrus Logic’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.51 EPS. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Williams Trading set a $150.00 price target on Cirrus Logic in a research note on Wednesday, November 5th. Stifel Nicolaus increased their price objective on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Benchmark boosted their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Cirrus Logic in the 2nd quarter worth approximately $68,744,000. Vaughan Nelson Investment Management L.P. increased its holdings in Cirrus Logic by 546.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock valued at $46,005,000 after buying an additional 328,159 shares during the last quarter. DNB Asset Management AS raised its position in Cirrus Logic by 124.1% in the second quarter. DNB Asset Management AS now owns 504,474 shares of the semiconductor company’s stock worth $52,594,000 after acquiring an additional 279,398 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Cirrus Logic by 33.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after acquiring an additional 269,391 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cirrus Logic by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after acquiring an additional 268,560 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.