Cirrus Logic (NASDAQ:CRUS) Trading Down 6.8% Following Insider Selling

Cirrus Logic, Inc. (NASDAQ:CRUS) fell 6.8% during trading on Thursday following insider selling activity. The stock traded as low as $102.69 and last traded at $101.93. 82,841 shares changed hands during trading, a decline of 88% from the average session volume of 716,693 shares. The stock had previously closed at $109.34.

Specifically, 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 value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRUS shares. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Susquehanna upped their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Trading Down 4.5 %

The company has a market cap of $5.55 billion, a price-to-earnings ratio of 17.70 and a beta of 0.91. The firm’s fifty day moving average price is $102.49 and its 200-day moving average price is $116.08.

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

Institutional Trading of Cirrus Logic

A number of institutional investors have recently made changes to their positions in CRUS. Stonegate Investment Group LLC boosted its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 90 shares during the last quarter. Atria Investments Inc lifted its stake in Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the last quarter. Arizona State Retirement System grew its holdings in Cirrus Logic by 0.7% during the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock worth $1,543,000 after purchasing an additional 101 shares during the period. Nisa Investment Advisors LLC increased its position in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 142 shares during the period. Institutional investors own 87.96% of the company’s stock.

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.