Insider Selling: Cirrus Logic (NASDAQ:CRUS) EVP Sells 11,089 Shares of Stock

Key Points

• Scott Thomas, EVP of Cirrus Logic, sold 11,089 shares of the company at an average price of $121.49, totaling approximately $1.35 million, reducing his stake by 29.65%.
• Cirrus Logic's stock price rose by 3.0% to $122.75 following a strong quarterly earnings report, which exceeded analysts' expectations.
• Analysts have mixed reviews on the stock, with Stifel Nicolaus raising its target price to $130.00 while Wall Street Zen downgraded it from "strong-buy" to "buy".

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Scott Thomas sold 11,089 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the completion of the sale, the executive vice president directly owned 26,307 shares of the company's stock, valued at $3,196,037.43. The trade was a 29.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded down $2.63 on Friday, reaching $120.12. 1,675,707 shares of the company traded hands, compared to its average volume of 484,167. The firm has a market capitalization of $6.17 billion, a PE ratio of 18.80 and a beta of 1.02. The company has a 50 day moving average of $110.02 and a 200 day moving average of $102.97. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $126.50.

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

Analysts Set New Price Targets

Several research firms recently commented on CRUS. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Cirrus Logic in the 2nd quarter worth about $68,744,000. AQR Capital Management LLC boosted its stake in Cirrus Logic by 131.5% in the 1st quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company's stock worth $103,456,000 after purchasing an additional 604,337 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Cirrus Logic by 98.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock worth $111,380,000 after purchasing an additional 553,169 shares in the last quarter. Nuveen LLC acquired a new stake in Cirrus Logic during the 1st quarter valued at approximately $49,364,000. Finally, DNB Asset Management AS increased its holdings in shares of Cirrus Logic by 124.1% during the 2nd quarter. DNB Asset Management AS now owns 504,474 shares of the semiconductor company's stock valued at $52,594,000 after purchasing an additional 279,398 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

About Cirrus Logic

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.