Cirrus Logic (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner Sells 9,162 Shares

Key Points

• Jeffrey Baumgartner, EVP of Cirrus Logic, sold 9,162 shares of the company's stock, reducing his position by 39.55% and bringing his total holdings to 14,001 shares valued at approximately $1.68 million.
• Cirrus Logic's stock price increased by 3.0% to $122.75 following a strong quarterly earnings report, which beat analyst expectations with an EPS of $1.51.
• Analysts have issued mixed ratings on Cirrus Logic, with Stifel Nicolaus raising their target price to $130, while Wall Street Zen downgraded the stock from "strong-buy" to "buy."

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Jeffrey W. Baumgartner sold 9,162 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $1,099,440.00. Following the transaction, the executive vice president directly owned 14,001 shares in the company, valued at $1,680,120. The trade was a 39.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cirrus Logic Price Performance

CRUS traded down $2.63 during trading on Friday, reaching $120.12. The company had a trading volume of 1,675,707 shares, compared to its average volume of 484,167. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $126.50. The business's fifty day moving average price is $110.02 and its 200 day moving average price is $102.97. The company has a market cap of $6.17 billion, a P/E ratio of 18.80 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.44. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The firm had revenue of $407.27 million for the quarter, compared to analyst estimates of $361.97 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Cirrus Logic

A number of institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its holdings in shares of Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 249 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Cirrus Logic in the first quarter worth about $30,000. RMG Wealth Management LLC bought a new position in shares of Cirrus Logic in the second quarter worth about $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Cirrus Logic in the second quarter valued at approximately $31,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic in the second quarter valued at approximately $39,000. Institutional investors own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CRUS shares. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

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.