Cirrus Logic, Inc. (NASDAQ:CRUS) Short Interest Up 9.4% in April

Cirrus Logic, Inc. (NASDAQ:CRUS) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 785,800 shares, a growth of 9.4% from the March 31st total of 718,100 shares. Based on an average trading volume of 434,600 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.5% of the shares of the company are sold short.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at $548,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its holdings in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after buying an additional 178 shares during the period. Atlas Capital Advisors LLC increased 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 worth $37,000 after buying an additional 204 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of 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 during the period. Nisa Investment Advisors LLC increased its holdings in shares of Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after buying an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cirrus Logic in the third quarter worth about $62,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS traded down $1.47 during trading hours on Tuesday, reaching $88.83. 57,807 shares of the stock traded hands, compared to its average volume of 404,998. The stock has a 50 day simple moving average of $90.01 and a two-hundred day simple moving average of $82.40. Cirrus Logic has a 1 year low of $65.02 and a 1 year high of $95.87. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 28.67 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. On average, sell-side analysts forecast that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Barclays raised their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Stifel Nicolaus raised their price target on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Susquehanna lifted their price objective on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Finally, TD Cowen lifted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $96.43.

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 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 digital signal processing; boosted amplifiers; 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.