Key Points
- Cirrus Logic EVP Jeffrey Baumgartner sold 1,166 shares at an average price of $138.57, generating $161,572.62. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 7.11% to 15,239 shares.
- Cirrus Logic’s latest quarterly results exceeded expectations, with EPS of $1.95 versus the $1.76 consensus and revenue of $448.52 million. Revenue rose 5.7% year over year, while analysts expect $7.86 in full-year EPS.
- Analyst sentiment remains moderately positive: five analysts rate the stock a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $160.29. Institutional investors own approximately 87.96% of the company.
Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Jeffrey Baumgartner sold 1,166 shares of the company's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $138.57, for a total transaction of $161,572.62. Following the completion of the sale, the executive vice president owned 15,239 shares in the company, valued at $2,111,668.23. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cirrus Logic Stock Performance
Shares of NASDAQ CRUS opened at $136.16 on Wednesday. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $180.42. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 17.37 and a beta of 1.17. The firm's 50-day simple moving average is $155.42 and its 200 day simple moving average is $148.82.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 7.86 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently issued reports on CRUS. Zacks Research downgraded Cirrus Logic from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Jefferies Financial Group upgraded Cirrus Logic to a "buy" rating in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cirrus Logic in a report on Wednesday, June 24th. KeyCorp reduced their target price on shares of Cirrus Logic from $200.00 to $190.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Finally, Barclays increased their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.29.
Check Out Our Latest Stock Report on CRUS
Institutional Trading of Cirrus Logic
A number of institutional investors and hedge funds have recently modified their holdings of CRUS. LSV Asset Management boosted its position in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company's stock worth $279,215,000 after purchasing an additional 23,703 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Cirrus Logic by 0.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company's stock valued at $187,059,000 after purchasing an additional 11,307 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cirrus Logic by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company's stock worth $192,055,000 after purchasing an additional 83,897 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Cirrus Logic by 33.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company's stock worth $127,224,000 after purchasing an additional 269,391 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Cirrus Logic by 21.1% in the 1st quarter. Quantinno Capital Management LP now owns 942,207 shares of the semiconductor company's stock worth $136,262,000 after buying an additional 163,979 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.
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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