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

Cirrus Logic, Inc. (NASDAQ:CRUS) Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $56.31, for a total value of $281,550.00. Following the sale, the director now owns 16,182 shares of the company’s stock, valued at approximately $911,208.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cirrus Logic, Inc. (NASDAQ:CRUS) opened at 54.63 on Friday. Cirrus Logic, Inc. has a one year low of $47.01 and a one year high of $71.97. The company’s 50 day moving average price is $61.09 and its 200-day moving average price is $61.30. The stock has a market capitalization of $3.49 billion, a PE ratio of 12.78 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The company had revenue of $320.70 million during the quarter, compared to analyst estimates of $320.32 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. Analysts expect that Cirrus Logic, Inc. will post $4.74 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Cirrus Logic, Inc. (CRUS) Director Christine King Sells 5,000 Shares” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/cirrus-logic-inc-crus-director-christine-king-sells-5000-shares.html.

Institutional investors have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. purchased a new position in shares of Cirrus Logic during the second quarter worth approximately $102,000. Advisory Services Network LLC purchased a new position in shares of Cirrus Logic during the first quarter worth approximately $108,000. Huntington National Bank raised its position in shares of Cirrus Logic by 0.5% in the first quarter. Huntington National Bank now owns 2,442 shares of the semiconductor company’s stock worth $148,000 after buying an additional 11 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Cirrus Logic during the first quarter worth approximately $174,000. Finally, ETRADE Capital Management LLC purchased a new position in shares of Cirrus Logic during the second quarter worth approximately $201,000. 94.48% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the company. BidaskClub downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price target on shares of Cirrus Logic in a research report on Thursday, August 3rd. Pacific Crest reiterated an “overweight” rating and set a $75.00 price target on shares of Cirrus Logic in a research report on Wednesday, June 21st. Finally, Barclays PLC downgraded Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price target for the company. in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $68.59.

About Cirrus Logic

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)

Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply