Cirrus Logic, Inc. (NASDAQ:CRUS) VP Andrew Brannan Sells 3,250 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUSGet Free Report) VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cirrus Logic Stock Down 0.2 %

Shares of NASDAQ:CRUS opened at $93.06 on Friday. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $111.15. The company’s fifty day simple moving average is $81.29 and its 200 day simple moving average is $77.16. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 13.90 and a beta of 0.98.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after acquiring an additional 327,269 shares during the period. Vanguard Group Inc. increased its stake in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after buying an additional 105,577 shares during the last quarter. Mackenzie Financial Corp increased its stake in Cirrus Logic by 5.9% in the 4th quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock valued at $215,357,000 after buying an additional 160,832 shares during the last quarter. State Street Corp increased its stake in Cirrus Logic by 7.0% in the 2nd quarter. State Street Corp now owns 2,103,952 shares of the semiconductor company’s stock valued at $170,441,000 after buying an additional 137,227 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Cirrus Logic by 183.8% in the 1st quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after buying an additional 1,277,213 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRUS. Barclays raised their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Loop Capital raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $100.00 in a research note on Wednesday, November 1st. TD Cowen increased their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $96.43.

View Our Latest Research Report on CRUS

About Cirrus Logic

(Get Free Report)

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 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 digital signal processing; boosted amplifiers; 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.

Featured Articles

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.