Jeffrey W. Baumgartner Sells 2,051 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cirrus Logic Price Performance

Shares of CRUS opened at $106.77 on Friday. The firm has a market capitalization of $5.67 billion, a PE ratio of 18.10 and a beta of 0.91. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The company’s fifty day moving average price is $102.54 and its 200-day moving average price is $115.86.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of recent research reports. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Institutional Investors Weigh In On Cirrus Logic

A number of large investors have recently made changes to their positions in CRUS. Bank of Montreal Can grew its holdings in shares of Cirrus Logic by 3.2% during the second quarter. Bank of Montreal Can now owns 5,398 shares of the semiconductor company’s stock valued at $689,000 after buying an additional 166 shares during the last quarter. Creative Planning grew its holdings in shares of Cirrus Logic by 31.6% during the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 1,807 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Cirrus Logic during the 2nd quarter worth about $1,009,000. Finally, Handelsbanken Fonder AB grew its position in Cirrus Logic by 20.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 15,695 shares of the semiconductor company’s stock worth $1,949,000 after purchasing an additional 2,700 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.