Justin E. Dougherty Sells 10,203 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $141.76 on Friday. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 28.75 and a beta of 0.94. The stock has a 50 day moving average price of $129.11 and a 200 day moving average price of $106.44. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The firm had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Cirrus Logic’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. Analysts forecast that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

CRUS has been the topic of several analyst reports. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Barclays boosted their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna boosted their price objective on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Institutional Trading of Cirrus Logic

Large investors have recently modified their holdings of the company. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Quadrant Capital Group LLC raised its stake in Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after buying an additional 214 shares in the last quarter. Versant Capital Management Inc raised its stake in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Cirrus Logic by 60.3% in the first quarter. Venturi Wealth Management LLC now owns 590 shares of the semiconductor company’s stock worth $55,000 after buying an additional 222 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.