Insider Selling: Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Sells $205,100.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $106.77 on Friday. The company has a market cap of $5.67 billion, a P/E ratio of 18.10 and a beta of 0.91. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The firm has a 50-day simple moving average of $102.54 and a two-hundred day simple moving average of $115.86.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stonegate Investment Group LLC raised its stake in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares in the last quarter. Atria Investments Inc raised its stake in shares of Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 101 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Cirrus Logic by 0.7% during the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after acquiring an additional 101 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several recent research reports. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday. Barclays lifted their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital began coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

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.