Justin E. Dougherty Sells 10,203 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) 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 completion of the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cirrus Logic Stock Up 4.2 %

Shares of NASDAQ:CRUS traded up $5.60 during midday trading on Tuesday, reaching $137.66. The company’s stock had a trading volume of 430,154 shares, compared to its average volume of 466,855. The firm has a 50 day moving average of $127.78 and a 200-day moving average of $105.57. The firm has a market capitalization of $7.36 billion, a P/E ratio of 26.79 and a beta of 0.94. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million for 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 revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, research analysts predict that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors have recently added to or reduced their stakes in CRUS. Vanguard Group Inc. lifted its position in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after buying an additional 128,393 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of 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 purchasing an additional 35,722 shares during the last quarter. Sei Investments Co. lifted its position in shares of 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 purchasing an additional 153,946 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of 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 purchasing an additional 12,377 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of 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 purchasing an additional 21,381 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of recent research reports. StockNews.com upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. TD Cowen upped their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Susquehanna upped their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus upped their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Buy” and a consensus target price of $143.33.

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.