Cirrus Logic, Inc. (NASDAQ:CRUS – Get Free Report) EVP Jeffrey Baumgartner sold 1,166 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $138.57, for a total value of $161,572.62. Following the completion of the sale, the executive vice president owned 15,239 shares of the company’s stock, valued at approximately $2,111,668.23. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cirrus Logic Stock Performance
Shares of NASDAQ CRUS traded down $0.79 during trading on Tuesday, hitting $135.33. 174,651 shares of the company were exchanged, compared to its average volume of 629,858. The company has a fifty day moving average price of $155.92 and a 200-day moving average price of $148.70. The firm has a market capitalization of $6.83 billion, a PE ratio of 17.26 and a beta of 1.17. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42.
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same period last year, the business earned $1.67 earnings per share. Cirrus Logic’s revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Cirrus Logic, Inc. will post 7.86 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Get Our Latest Research Report on CRUS
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 120 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic during the 4th quarter worth about $33,000. Torren Management LLC purchased a new stake in Cirrus Logic during the 4th quarter worth about $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 87.96% of the company’s stock.
Cirrus Logic Company Profile
Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.
The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.
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