Cirrus Logic (NASDAQ:CRUS) EVP Sells $458,739.57 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the sale, the executive vice president owned 30,393 shares of the company’s stock, valued at $4,304,560.59. This trade represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $144.63 on Monday. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $146.88. The company has a fifty day moving average price of $126.42 and a two-hundred day moving average price of $121.76. The company has a market cap of $7.38 billion, a PE ratio of 19.06 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRUS shares. Wall Street Zen cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research note on Monday, February 2nd. Barclays boosted their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. KeyCorp increased their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Williams Trading set a $150.00 price objective on shares of Cirrus Logic in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.43.

Institutional Investors Weigh In On Cirrus Logic

Several institutional investors have recently bought and sold shares of CRUS. Vanguard Group Inc. raised 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 worth $829,724,000 after buying an additional 268,560 shares in the last quarter. LSV Asset Management increased its stake in shares of Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after acquiring an additional 23,703 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Cirrus Logic by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock worth $187,059,000 after purchasing an additional 11,307 shares in the last quarter. Earnest Partners LLC lifted its position in Cirrus Logic by 0.8% in the third quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock worth $168,980,000 after purchasing an additional 10,750 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Cirrus Logic by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,244,258 shares of the semiconductor company’s stock valued at $147,452,000 after purchasing an additional 83,059 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Cirrus Logic

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.