Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner Sells 2,051 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cirrus Logic Trading Up 2.3 %

Shares of Cirrus Logic stock traded up $2.36 during mid-day trading on Friday, reaching $106.77. 1,261,329 shares of the stock were exchanged, compared to its average volume of 761,861. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 19.38 and a beta of 0.91. The firm has a 50-day simple moving average of $102.54 and a 200 day simple moving average of $115.61.

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, research analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of CRUS. Huntington National Bank grew its holdings in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the 4th quarter worth about $28,000. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter valued at about $31,000. Finally, Westside Investment Management Inc. bought a new position in shares of Cirrus Logic in the third quarter worth about $35,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRUS. Barclays lifted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Benchmark upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a research note on Wednesday. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Finally, Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.