Cirrus Logic (NASDAQ:CRUS) EVP Sells $1,591,813.62 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the sale, the executive vice president directly owned 30,393 shares in the company, valued at $4,866,223.23. The trade was a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Thomas also recently made the following trade(s):

• On Friday, February 13th, Scott Thomas sold 3,239 shares of Cirrus Logic stock. The stock was sold at an average price of $141.63, for a total transaction of $458,739.57.

Cirrus Logic Price Performance

CRUS opened at $160.00 on Monday. Cirrus Logic, Inc. has a fifty-two week low of $82.02 and a fifty-two week high of $162.51. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 21.08 and a beta of 1.08. The company’s 50 day moving average price is $141.19 and its two-hundred day moving average price is $129.77.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. During the same period in the previous year, the firm posted $2.51 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRUS shares. Barclays upped their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research note on Monday, February 2nd. KeyCorp upped their price objective on shares of Cirrus Logic from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, Benchmark upped their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $150.43.

Institutional Trading of Cirrus Logic

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at about $33,000. Torren Management LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at about $35,000. Kestra Advisory Services LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cirrus Logic in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.