Cirrus Logic (NASDAQ:CRUS) Director Alexander Davern Sells 1,000 Shares

by · The Cerbat Gem

Cirrus Logic, Inc. (NASDAQ:CRUS – Get Free Report) Director Alexander Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total transaction of $159,000.00. Following the completion of the sale, the director owned 20,531 shares of the company’s stock, valued at $3,264,429. This trade represents a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cirrus Logic Stock Up 0.4%

Shares of NASDAQ CRUS opened at $166.62 on Friday. Cirrus Logic, Inc. has a 52 week low of $92.02 and a 52 week high of $179.00. The firm has a 50-day moving average price of $155.53 and a 200 day moving average price of $137.21. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.25 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.26 million. During the same quarter last year, the business earned $1.67 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Cirrus Logic, Inc. will post 8.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRUS shares. Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Benchmark lifted their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Barclays lifted their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. KeyCorp lifted their price target on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.71.

Get Our Latest Stock Report on CRUS

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in shares of Cirrus Logic by 102.5% during the third quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company’s stock worth $3,175,000 after purchasing an additional 12,828 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock worth $15,391,000 after buying an additional 11,607 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Cirrus Logic in the fourth quarter worth $888,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Cirrus Logic by 546.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock worth $46,005,000 after buying an additional 328,159 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Cirrus Logic by 223.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 144,139 shares of the semiconductor company’s stock worth $17,080,000 after buying an additional 99,526 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Company Profile

(Get Free Report)

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.

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