Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) SVP Sells 10,203 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) SVP Justin E. Dougherty sold 10,203 shares of the business’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 transaction 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 $637,212.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $137.66 on Wednesday. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $142.83. The company has a market capitalization of $7.36 billion, a PE ratio of 27.92 and a beta of 0.94. The company has a 50 day moving average price of $128.25 and a two-hundred day moving average price of $105.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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. The company had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC boosted its holdings in shares of Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after buying an additional 103 shares during the period. Arkadios Wealth Advisors boosted its holdings in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Oak Associates Ltd. OH boosted its holdings in Cirrus Logic by 0.4% during the second quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after purchasing an additional 134 shares during the last quarter. Holderness Investments Co. boosted its holdings in Cirrus Logic by 0.3% during the second quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock worth $6,047,000 after purchasing an additional 155 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Cirrus Logic by 19.5% during the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRUS shares. Stifel Nicolaus boosted their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Benchmark downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. StockNews.com raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Susquehanna upped their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic has an average rating of “Buy” and an average price target of $143.33.

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.