Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells $591,774.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cirrus Logic Trading Up 3.4 %

Shares of NASDAQ:CRUS traded up $4.68 during trading on Thursday, hitting $141.76. 420,374 shares of the company’s stock traded hands, compared to its average volume of 466,183. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $142.83. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 27.81 and a beta of 0.94. The company has a 50-day moving average price of $128.65 and a 200-day moving average price of $106.19.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.50. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The business had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter in the previous year, the business posted $0.35 EPS. Cirrus Logic’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts predict that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRUS. Barclays raised their target price on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus raised their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, KeyCorp raised their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.33.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of CRUS. Allspring Global Investments Holdings LLC increased its holdings in shares of Cirrus Logic by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 53,729 shares of the semiconductor company’s stock worth $4,470,000 after acquiring an additional 703 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $1,256,000. Vontobel Holding Ltd. bought a new stake in Cirrus Logic in the 4th quarter valued at $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cirrus Logic by 9.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,495 shares of the semiconductor company’s stock valued at $956,000 after purchasing an additional 984 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its stake in Cirrus Logic by 2.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 363 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.