Cirrus Logic (NASDAQ:CRUS) CEO Sells $2,947,080.90 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. This represents a 30.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cirrus Logic Trading Up 1.9%

Shares of NASDAQ CRUS opened at $142.78 on Monday. The firm has a market cap of $7.28 billion, a P/E ratio of 18.81 and a beta of 1.12. The business’s 50 day moving average is $124.39 and its 200-day moving average is $120.39. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $144.76.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 EPS. Analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on CRUS shares. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. KeyCorp upped their target price on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Monday, February 2nd. Wall Street Zen downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Benchmark upped their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.43.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently modified their holdings of the business. LSV Asset Management grew its position in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after acquiring an additional 23,703 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Cirrus Logic by 211.6% in the 4th quarter. Global Retirement Partners LLC now owns 835 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 567 shares in the last quarter. Mach 1 Financial Group LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at approximately $736,000. Banque Cantonale Vaudoise increased its position in Cirrus Logic by 81.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 551 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 248 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Cirrus Logic by 314.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,128 shares of the semiconductor company’s stock valued at $1,200,000 after purchasing an additional 7,686 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Company Profile

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.