Cirrus Logic, Inc. (NASDAQ:CRUS) CEO Jason P. Rhode sold 128,847 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $52.14, for a total value of $6,718,082.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
CRUS traded up $0.15 on Thursday, hitting $52.65. 3,735 shares of the company’s stock traded hands, compared to its average volume of 944,254. The firm has a 50 day simple moving average of $47.56. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.95. Cirrus Logic, Inc. has a one year low of $31.25 and a one year high of $60.00. The company has a current ratio of 4.30, a quick ratio of 3.18 and a debt-to-equity ratio of 0.12.
Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.21. The company had revenue of $238.25 million for the quarter, compared to the consensus estimate of $221.08 million. Cirrus Logic had a return on equity of 10.96% and a net margin of 8.46%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. Equities analysts predict that Cirrus Logic, Inc. will post 1.98 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CRUS. Investors Research Corp bought a new stake in Cirrus Logic during the 1st quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its stake in Cirrus Logic by 596.7% in the 1st quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 549 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Cirrus Logic in the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Cirrus Logic in the 2nd quarter worth approximately $44,000. Finally, Meeder Asset Management Inc. increased its stake in Cirrus Logic by 210.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,525 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 1,034 shares during the last quarter. 84.86% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on CRUS shares. Cowen reiterated a “market perform” rating and issued a $56.00 price objective (up from $48.00) on shares of Cirrus Logic in a report on Thursday, August 1st. MKM Partners lifted their price objective on Cirrus Logic to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Bank of America reaffirmed an “underperform” rating and set a $46.00 price objective (up from $40.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. Craig Hallum reaffirmed a “hold” rating and set a $42.00 price objective (up from $38.00) on shares of Cirrus Logic in a research report on Thursday, August 1st. Finally, ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $50.13.
About Cirrus Logic
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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