Cirrus Logic, Inc. (NASDAQ:CRUS) VP Sells $226,700.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) VP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction on Monday, May 20th. The stock was sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the transaction, the vice president now directly owns 38,507 shares in the company, valued at $4,364,768.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cirrus Logic Trading Up 0.4 %

Shares of NASDAQ:CRUS opened at $114.46 on Friday. The stock has a fifty day simple moving average of $94.52 and a two-hundred day simple moving average of $86.78. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $116.14. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 23.22 and a beta of 0.99.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 71.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. California Public Employees Retirement System increased its holdings in Cirrus Logic by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 301,892 shares of the semiconductor company’s stock worth $22,328,000 after buying an additional 13,194 shares in the last quarter. LSV Asset Management raised its position in Cirrus Logic by 0.9% in the 3rd quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company’s stock worth $96,697,000 after buying an additional 12,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cirrus Logic by 347.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 108,300 shares of the semiconductor company’s stock valued at $8,010,000 after acquiring an additional 84,101 shares during the last quarter. Finally, Seizert Capital Partners LLC grew its stake in shares of Cirrus Logic by 1.6% in the third quarter. Seizert Capital Partners LLC now owns 94,682 shares of the semiconductor company’s stock worth $7,003,000 after acquiring an additional 1,502 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Susquehanna lifted their price objective on Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research report on Wednesday, May 8th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Finally, KeyCorp raised their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $107.86.

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 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.