November 29, 2016 - By Peter Erickson
In an electronic document that was filled with the SEC, it was revealed that the director of Cirrus Logic Inc William Sherman, an insider in spotlight, made an open market sale for 6,462 shares of the public firm, valued at $374,336 US Dollars using an average stock price per share of $57.9 US Dollars. He also sold 186 shares that are worth $10,414 USD in the last 30 days. The regulatory filing shows that William Sherman now has about 0.01% of the Texas-based company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding)
Out of 9 analysts covering Cirrus Logic (NASDAQ:CRUS), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. $70 is the highest target while $38.0 is the lowest. The $54.67 average target is -4.56% below today’s ($57.28) stock price. Cirrus Logic has been the topic of 16 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained it with “Buy” rating and $68 target price in Friday, October 28 report. The rating was initiated by Craig Hallum on Monday, November 21 with “Hold”. Topeka Capital Markets initiated the stock with “Buy” rating in Friday, February 26 report. The rating was upgraded by Pacific Crest on Friday, January 8 to “Overweight”. The firm earned “Buy” rating on Thursday, July 23 by Stifel Nicolaus. Stifel Nicolaus maintained the shares of CRUS in a report on Thursday, September 8 with “Buy” rating. The rating was maintained by Stifel Nicolaus on Friday, January 8 with “Buy”. Canaccord Genuity initiated it with “Buy” rating and $52 target price in Tuesday, June 21 report. The firm earned “Buy” rating on Thursday, October 13 by Stifel Nicolaus. Needham initiated the shares of CRUS in a report on Monday, March 14 with “Buy” rating.
Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.14, from 1.02 in 2016Q1. The ratio worsened, as 29 funds sold all Cirrus Logic, Inc. shares owned while 91 reduced positions. 40 funds bought stakes while 82 increased positions. They now own 54.90 million shares or 1.26% less from 55.60 million shares in 2016Q1.
Apriem Advsrs holds 1,000 shares or 0.01% of its portfolio. Martingale Asset Lp owns 8,493 shares or 0.01% of their US portfolio. The Ohio-based Fifth Third National Bank has invested 0% in Cirrus Logic, Inc. (NASDAQ:CRUS). Voloridge Invest Mgmt Limited Liability Company accumulated 14,163 shares or 0.02% of the stock. Royal Bancshares Of Canada has 0% invested in the company for 7,666 shares. Century Companies last reported 89,235 shares in the company. Blackrock Japan Ltd has invested 0% of its portfolio in Cirrus Logic, Inc. (NASDAQ:CRUS). Foundry Ptnrs Limited Company last reported 0.02% of its portfolio in the stock. Louisiana State Employees Retirement has 0.06% invested in the company for 27,600 shares. Jane Street Gru Limited Liability has 6,233 shares for 0% of their US portfolio. Bancshares Of Mellon last reported 1.28 million shares in the company. Highbridge Capital Management Ltd Liability Corp holds 0% or 7,350 shares in its portfolio. Federated Investors Pa, a Pennsylvania-based fund reported 12,369 shares. Cornerstone Management Ltd Liability Corp last reported 0% of its portfolio in the stock. Eam Investors Ltd has 0.38% invested in the company for 64,553 shares.
Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 34 insider sales for $40.26 million net activity. The insider DEHNE TIMOTHY R sold 19,493 shares worth $1.06 million. 10,000 shares were sold by ANDERSON SCOTT ARNOLD, worth $490,525. Another trade for 1,200 shares valued at $61,020 was sold by SHERMAN WILLIAM D. On Monday, August 15 the insider Rhode Jason P sold $5.19M. 25,000 shares were sold by CARTER JOHN C, worth $1.39M on Tuesday, November 8. SCHUELE ALAN R also sold $545,301 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, October 31. Hughes Allan sold $769,252 worth of Cirrus Logic, Inc. (NASDAQ:CRUS) on Monday, August 22.
The stock decreased 0.47% or $0.27 during the last trading session, hitting $57.28. About 909,406 shares traded hands. Cirrus Logic, Inc. (NASDAQ:CRUS) has risen 69.71% since April 26, 2016 and is uptrending. It has outperformed by 64.45% the S&P500.
Cirrus Logic, Inc. is engaged in providing integrated circuits for audio and voice signal processing applications. The company has a market cap of $3.65 billion. The Firm develops analog and mixed-signal ICs for a range of customers. It has a 25.16 P/E ratio. The Firm offers two product lines: Portable Audio, and Non-Portable Audio and Other.
According to Zacks Investment Research, “Cirrus Logic Inc. is a premier supplier of high performance analog circuits and advanced mixed-signal chip solutions. The company’s products, sold under its own name and the Crystal product brand, enable system-level applications in mass storage, audio and precision data conversion. (PRESS RELEASE)”
Analysts await Cirrus Logic, Inc. (NASDAQ:CRUS) to report earnings on January, 25. They expect $1.53 EPS, up 118.57% or $0.83 from last year’s $0.7 per share. CRUS’s profit will be $97.49M for 9.36 P/E if the $1.53 EPS becomes a reality. After $1.24 actual EPS reported by Cirrus Logic, Inc. for the previous quarter, Wall Street now forecasts 23.39% EPS growth.
Another recent and important Cirrus Logic, Inc. (NASDAQ:CRUS) news was published by Investorplace.com which published an article titled: “Trade of the Day: Cirrus Logic, Inc. (CRUS) Signaling Upcoming Gains” on November 23, 2016.
Cirrus Logic, Inc., incorporated on August 26, 1998, is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Firm develops analog and mixed-signal ICs for a range of customers. The Firm offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s products span the entire audio signal chain, from capture to playback, providing products for a range of smartphones, tablets, digital headsets, wearables and smart home applications. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas. The Firm offers products through both direct and indirect sales channels across the world.
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