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 Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value 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 represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cirrus Logic Trading Up 7.8 %

Shares of NASDAQ:CRUS traded up $7.95 during mid-day trading on Wednesday, reaching $109.34. The company had a trading volume of 1,862,553 shares, compared to its average volume of 745,153. The company’s 50-day moving average price is $102.43 and its 200-day moving average price is $116.21. Cirrus Logic, Inc. has a one year low of $77.49 and a one year high of $147.46. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 18.53 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results 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%. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRUS. Bank of Montreal Can increased its stake in Cirrus Logic by 3.2% in the 2nd quarter. Bank of Montreal Can now owns 5,398 shares of the semiconductor company’s stock worth $689,000 after purchasing an additional 166 shares during the period. Creative Planning increased its stake in shares of Cirrus Logic by 31.6% in the 2nd quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock worth $960,000 after acquiring an additional 1,807 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cirrus Logic by 52.1% during 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 purchased a new stake in shares of Cirrus Logic in the second quarter worth $1,009,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Cirrus Logic by 20.8% during the third quarter. Handelsbanken Fonder AB now owns 15,695 shares of the semiconductor company’s stock valued at $1,949,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRUS shares. 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 research note on Tuesday, November 5th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

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.