Cirrus Logic (NASDAQ:CRUS) Shares Down 6.8% Following Insider Selling

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) shares fell 6.8% on Thursday following insider selling activity. The company traded as low as $102.69 and last traded at $101.93. 82,841 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 716,693 shares. The stock had previously closed at $109.34.

Specifically, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

CRUS has been the subject of several recent research reports. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Benchmark raised shares of Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Wednesday, February 5th. Barclays raised their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. Finally, Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.

Cirrus Logic Stock Performance

The business has a 50 day simple moving average of $102.54 and a two-hundred day simple moving average of $115.61. The firm has a market capitalization of $5.55 billion, a P/E ratio of 18.95 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.60% and a net margin of 16.55%. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRUS. Huntington National Bank boosted its holdings in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic in the fourth quarter worth approximately $28,000. Nisa Investment Advisors LLC grew its position in 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 during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic during the third quarter worth approximately $31,000. Finally, Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $35,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

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.