Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) SVP Sells $1,343,837.13 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cirrus Logic Stock Up 3.4 %

CRUS stock opened at $141.76 on Friday. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $142.83. The stock’s 50 day moving average is $129.11 and its 200-day moving average is $106.44. The firm has a market capitalization of $7.58 billion, a PE ratio of 28.75 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CRUS shares. Barclays raised their target price on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna increased their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Stifel Nicolaus increased their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, TD Cowen increased their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after acquiring an additional 35,722 shares during the period. Sei Investments Co. lifted its holdings in Cirrus Logic by 30.8% during the fourth quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock worth $54,406,000 after acquiring an additional 153,946 shares during the period. Natixis Advisors L.P. lifted its holdings in Cirrus Logic by 24.5% during the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after acquiring an additional 12,377 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Cirrus Logic by 51.5% during the fourth quarter. BNP Paribas Financial Markets now owns 62,872 shares of the semiconductor company’s stock worth $5,230,000 after acquiring an additional 21,381 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Company Profile

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.