Cirrus Logic, Inc. (NASDAQ:CRUS) Director Sells $79,990.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) Director Alexander M. Davern sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $79.99, for a total value of $79,990.00. Following the completion of the sale, the director now owns 17,575 shares in the company, valued at approximately $1,405,824.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ CRUS opened at $77.80 on Wednesday. The business has a fifty day moving average price of $80.63 and a two-hundred day moving average price of $83.74. Cirrus Logic, Inc. has a fifty-two week low of $72.09 and a fifty-two week high of $95.84. The stock has a market capitalization of $4.46 billion, a PE ratio of 14.09, a PEG ratio of 4.78 and a beta of 0.90.

Cirrus Logic (NASDAQ:CRUSGet Rating) last released its earnings results on Tuesday, May 3rd. The semiconductor company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.61. Cirrus Logic had a return on equity of 23.52% and a net margin of 18.32%. The firm had revenue of $498.97 million during the quarter, compared to analysts’ expectations of $420.19 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 70.0% on a year-over-year basis. On average, equities research analysts expect that Cirrus Logic, Inc. will post 5.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Cirrus Logic by 13.8% during the fourth quarter. BlackRock Inc. now owns 5,910,845 shares of the semiconductor company’s stock worth $543,916,000 after purchasing an additional 716,936 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Cirrus Logic by 40.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,340,305 shares of the semiconductor company’s stock worth $215,355,000 after purchasing an additional 668,514 shares during the last quarter. State Street Corp lifted its stake in shares of Cirrus Logic by 5.6% in the 4th quarter. State Street Corp now owns 1,941,769 shares of the semiconductor company’s stock valued at $178,682,000 after acquiring an additional 102,382 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cirrus Logic by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,154,157 shares of the semiconductor company’s stock valued at $95,044,000 after acquiring an additional 147,114 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Cirrus Logic by 0.7% in the 4th quarter. Bank of America Corp DE now owns 961,238 shares of the semiconductor company’s stock valued at $88,453,000 after acquiring an additional 6,752 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Several equities analysts have recently commented on the company. KeyCorp decreased their target price on Cirrus Logic from $120.00 to $105.00 in a research report on Wednesday, May 4th. Benchmark decreased their target price on Cirrus Logic from $100.00 to $95.00 in a research report on Wednesday, May 4th. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Stifel Nicolaus upped their target price on Cirrus Logic from $112.00 to $120.00 in a research report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $88.00 target price on the stock. in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic has an average rating of “Buy” and an average price target of $104.21.

About Cirrus Logic (Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.

Featured Stories

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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.