Cirrus Logic (NASDAQ:CRUS) EVP Scott Thomas Sells 9,942 Shares

Key Points

• Cirrus Logic EVP Scott Thomas sold 9,942 shares at an average price of $160.11 on April 9 under a Rule 10b5-1 plan, reducing his ownership by 24.65% to 30,393 shares (proceeds ≈ $1.59M, remaining stake ≈ $4.87M).
• Cirrus Logic recently beat quarterly expectations with $2.97 EPS vs. $2.37 est and $580.6M in revenue, reporting a ~20.5% net margin while analysts maintain an average "Moderate Buy" rating and $150.43 target.
• The stock trades around $160 near its 52‑week high ($162.51) with a market cap of $8.16B and about 88% institutional ownership, and several institutions increased their positions in the latest quarter.

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Scott Thomas sold 9,942 shares of the company's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total value of $1,591,813.62. Following the sale, the executive vice president owned 30,393 shares of the company's stock, valued at approximately $4,866,223.23. This represents a 24.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Thomas also recently made the following trade(s):

• On Friday, February 13th, Scott Thomas sold 3,239 shares of Cirrus Logic stock. The shares were sold at an average price of $141.63, for a total value of $458,739.57.

Cirrus Logic Trading Up 0.2%

NASDAQ CRUS traded up $0.29 during trading on Friday, hitting $160.00. 643,397 shares of the company's stock were exchanged, compared to its average volume of 643,694. The company has a market cap of $8.16 billion, a PE ratio of 21.08 and a beta of 1.08. Cirrus Logic, Inc. has a fifty-two week low of $82.02 and a fifty-two week high of $162.51. The stock's 50 day moving average price is $140.59 and its two-hundred day moving average price is $129.50.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $2.51 EPS. Analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Institutional Trading of Cirrus Logic

Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its position in Cirrus Logic by 29.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,567 shares of the semiconductor company's stock worth $186,000 after purchasing an additional 354 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Cirrus Logic by 100.6% in the 4th quarter. Corient Private Wealth LLC now owns 25,768 shares of the semiconductor company's stock valued at $3,055,000 after buying an additional 12,923 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company's stock valued at $26,000 after buying an additional 220 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Cirrus Logic by 127.9% in the fourth quarter. Pacer Advisors Inc. now owns 421,426 shares of the semiconductor company's stock valued at $49,939,000 after buying an additional 236,501 shares during the period. Finally, Kera Capital Partners Inc. raised its position in shares of Cirrus Logic by 49.9% during the fourth quarter. Kera Capital Partners Inc. now owns 7,662 shares of the semiconductor company's stock worth $999,000 after acquiring an additional 2,551 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRUS shares. Benchmark upped their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. KeyCorp raised their price objective on Cirrus Logic from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Monday. Barclays upped their target price on Cirrus Logic from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Loop Capital downgraded Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research report on Monday, February 2nd. Finally, Stifel Nicolaus lifted their price target on Cirrus Logic from $150.00 to $163.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $150.43.

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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