Cirrus Logic, Inc. (NASDAQ:CRUS) VP Scott Arnold Anderson sold 19,818 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $54.78, for a total value of $1,085,630.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Cirrus Logic stock traded down $0.17 during trading hours on Thursday, hitting $54.81. 6,567 shares of the company’s stock traded hands, compared to its average volume of 981,333. Cirrus Logic, Inc. has a 12-month low of $31.25 and a 12-month high of $60.00. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.84 and a beta of 0.95. The company has a fifty day simple moving average of $49.06 and a 200-day simple moving average of $43.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.30 and a quick ratio of 3.18.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.21. Cirrus Logic had a return on equity of 10.96% and a net margin of 8.46%. The firm had revenue of $238.25 million during the quarter, compared to analyst estimates of $221.08 million. During the same period last year, the firm posted $0.28 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. On average, analysts forecast that Cirrus Logic, Inc. will post 1.98 EPS for the current fiscal year.

A number of research firms have issued reports on CRUS. Craig Hallum restated a “hold” rating and set a $42.00 price target (up from $38.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Dougherty & Co restated a “buy” rating and set a $62.00 price target (up from $53.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Wednesday, May 8th. ValuEngine upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Cowen restated a “market perform” rating and set a $56.00 price target (up from $48.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cirrus Logic presently has an average rating of “Hold” and a consensus target price of $50.13.

Several institutional investors have recently made changes to their positions in CRUS. BlackRock Inc. grew its stake in shares of Cirrus Logic by 9.0% during the 2nd quarter. BlackRock Inc. now owns 8,631,614 shares of the semiconductor company’s stock worth $377,200,000 after acquiring an additional 714,210 shares during the period. AQR Capital Management LLC grew its stake in shares of Cirrus Logic by 3.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,801,858 shares of the semiconductor company’s stock worth $121,236,000 after acquiring an additional 97,800 shares during the period. Northern Trust Corp grew its stake in shares of Cirrus Logic by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,078,376 shares of the semiconductor company’s stock worth $47,125,000 after acquiring an additional 7,946 shares during the period. Geode Capital Management LLC grew its stake in shares of Cirrus Logic by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 814,830 shares of the semiconductor company’s stock worth $27,036,000 after acquiring an additional 32,736 shares during the period. Finally, APG Asset Management N.V. grew its stake in shares of Cirrus Logic by 1,125.8% during the 2nd quarter. APG Asset Management N.V. now owns 726,900 shares of the semiconductor company’s stock worth $27,894,000 after acquiring an additional 667,600 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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