Christine King Sells 5,000 Shares of Cirrus Logic, Inc. (CRUS) Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $54.14, for a total transaction of $270,700.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Christine King also recently made the following trade(s):

  • On Monday, October 16th, Christine King sold 5,000 shares of Cirrus Logic stock. The stock was sold at an average price of $54.51, for a total transaction of $272,550.00.
  • On Friday, September 15th, Christine King sold 5,000 shares of Cirrus Logic stock. The stock was sold at an average price of $57.42, for a total transaction of $287,100.00.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) opened at $55.77 on Friday. Cirrus Logic, Inc. has a 52 week low of $49.05 and a 52 week high of $71.97. The stock has a market cap of $3,550.60, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The firm had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. During the same period in the previous year, the business earned $1.35 EPS. The company’s revenue was down .7% compared to the same quarter last year. equities research analysts expect that Cirrus Logic, Inc. will post 4.24 EPS for the current year.

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A number of equities analysts have recently weighed in on the stock. Bank of America Corporation assumed coverage on shares of Cirrus Logic in a research report on Monday, September 18th. They set an “underperform” rating and a $50.00 price target on the stock. ValuEngine cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Cirrus Logic in a research report on Tuesday, September 19th. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price objective on the stock in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.05.

A number of hedge funds have recently modified their holdings of CRUS. Old Mutual Global Investors UK Ltd. increased its stake in Cirrus Logic by 187.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 870,484 shares of the semiconductor company’s stock valued at $46,414,000 after buying an additional 567,354 shares during the last quarter. LSV Asset Management increased its stake in Cirrus Logic by 27.3% in the 2nd quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock valued at $162,935,000 after buying an additional 557,048 shares during the last quarter. Koch Industries Inc. increased its stake in Cirrus Logic by 3,884.7% in the 2nd quarter. Koch Industries Inc. now owns 494,467 shares of the semiconductor company’s stock valued at $487,000 after buying an additional 482,058 shares during the last quarter. Prudential Financial Inc. increased its stake in Cirrus Logic by 69.6% in the 3rd quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock valued at $51,562,000 after buying an additional 396,890 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cirrus Logic by 111.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 565,509 shares of the semiconductor company’s stock worth $35,470,000 after purchasing an additional 298,388 shares during the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Insider Buying and Selling by Quarter for Cirrus Logic (NASDAQ:CRUS)

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