Cirrus Logic, Inc. (CRUS) Director Christine King Sells 5,000 Shares

Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $54.14, for a total value of $270,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christine King also recently made the following trade(s):

  • On Monday, October 16th, Christine King sold 5,000 shares of Cirrus Logic stock. The stock was sold at an average price of $54.51, for a total value of $272,550.00.
  • On Friday, September 15th, Christine King sold 5,000 shares of Cirrus Logic stock. The stock was sold at an average price of $57.42, for a total value of $287,100.00.

Cirrus Logic, Inc. (CRUS) traded up $0.51 during mid-day trading on Friday, hitting $55.77. The stock had a trading volume of 560,985 shares, compared to its average volume of 1,156,763. Cirrus Logic, Inc. has a 52-week low of $49.05 and a 52-week high of $71.97. The stock has a market capitalization of $3,520.00, a PE ratio of 12.72, a P/E/G ratio of 1.42 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The firm had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. During the same quarter in the previous year, the business earned $1.35 earnings per share. The company’s revenue was down .7% on a year-over-year basis. equities analysts predict that Cirrus Logic, Inc. will post 4.31 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. King Luther Capital Management Corp purchased a new position in shares of Cirrus Logic in the second quarter worth $1,101,000. Teachers Advisors LLC grew its holdings in shares of Cirrus Logic by 230.6% in the second quarter. Teachers Advisors LLC now owns 397,156 shares of the semiconductor company’s stock worth $24,910,000 after acquiring an additional 277,015 shares during the period. BlueMountain Capital Management LLC bought a new stake in shares of Cirrus Logic in the second quarter worth $2,449,000. Principal Financial Group Inc. grew its holdings in shares of Cirrus Logic by 4.3% in the second quarter. Principal Financial Group Inc. now owns 276,706 shares of the semiconductor company’s stock worth $17,355,000 after acquiring an additional 11,483 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in shares of Cirrus Logic by 135.2% in the second quarter. State of Tennessee Treasury Department now owns 211,710 shares of the semiconductor company’s stock worth $13,278,000 after acquiring an additional 121,710 shares during the period. Hedge funds and other institutional investors own 91.50% of the company’s stock.

A number of brokerages have recently weighed in on CRUS. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Cirrus Logic in a research report on Thursday, August 3rd. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Vetr upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price for the company in a research note on Thursday, August 3rd. Bank of America Corporation initiated coverage on Cirrus Logic in a research note on Monday, September 18th. They issued an “underperform” rating and a $50.00 target price for the company. Finally, Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.05.

Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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