Austin, TX – In a recent transaction, Justin E. Dougherty, the Senior Vice President of Global Operations at Cirrus Logic, Inc. (NASDAQ:CRUS), sold 4,000 shares of the company's common stock. The sale, which took place on May 13, 2024, amounted to a total value of over $431,400.
The shares were sold at a weighted average price of $107.85, with individual sales prices ranging from $107.80 to $107.91. This information is based on a weighted average provided in the filing, and detailed transaction prices within this range are available upon request from the company or the SEC.
Following the sale, Dougherty's remaining holdings in Cirrus Logic amount to 5,838 shares of common stock. This move by a high-ranking executive at Cirrus Logic is part of the standard transactions executives often undertake with their company shares.
Investors and followers of Cirrus Logic will continue to monitor insider transactions as they provide insights into executive confidence and company performance. The semiconductor industry, where Cirrus Logic operates, is known for its volatility and rapid changes, making these transactions a point of interest for the market.
Cirrus Logic, headquartered in Austin, Texas, is a premier supplier of high-precision analog and digital signal processing components for the audio and energy markets. The company's products are integral to various consumer and professional electronics.
InvestingPro Insights
Amidst the insider trading activity, Cirrus Logic, Inc. (NASDAQ:CRUS) presents an interesting profile when viewed through the lens of recent financial metrics and market performance. According to InvestingPro data, Cirrus Logic boasts a market capitalization of $5.81 billion USD, with a trailing twelve-month P/E ratio of 21.05, suggesting a balance between share price and earnings. The company's PEG ratio for the same period stands at 0.36, which could indicate potential for future earnings growth relative to its current P/E ratio.
Despite a slight revenue contraction of 5.73% over the last twelve months as of Q4 2024, Cirrus Logic maintains a robust gross profit margin of 51.21%, highlighting its ability to retain a significant portion of sales as gross profit. Additionally, the company's return on assets is a healthy 12.78%, reflecting efficient use of its assets to generate earnings.
Investors may also find the company's recent price performance compelling. Cirrus Logic has experienced a significant price uptick over the last six months, with a total return of 47.08%. This momentum is further underscored by the stock trading near its 52-week high, at 99.57% of this peak value.
Turning to InvestingPro Tips, it's noteworthy that management has been actively repurchasing shares, and Cirrus Logic holds more cash than debt on its balance sheet. These factors could be interpreted as signs of management's confidence in the company's financial health and future prospects. Moreover, with 5 analysts revising their earnings upwards for the upcoming period, there appears to be an optimistic outlook on the company's profitability.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available, providing a comprehensive look at the company's financial health and market performance. Readers interested in exploring these further can do so and take advantage of a special offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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