An Analysis of Cirrus Logic Inc. (CRUS)’s Potential Price Growth


Cirrus Logic Inc.’s filing revealed that its VP, Worldwide Sales Brannan Andrew unloaded Company’s shares for reported $76000.0 on Aug 29. In the deal valued at $80.00 per share,950 shares were sold. As a result of this transaction, Brannan Andrew now holds 6,555 shares worth roughly $ 0.52 million.

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Then, THOMAS SCOTT sold 10,261 shares, generating $1,125,119 in total proceeds. Upon selling the shares at $109.65, the Sr VP, General Counsel & now owns 20,554 shares.

Before that, ANDERSON SCOTT ARNOLD sold 29,229 shares. Cirrus Logic Inc. shares valued at $3,079,481 were divested by the Sr VP, Supply Chain at a price of $105.36 per share. As a result of the transaction, ANDERSON SCOTT ARNOLD now holds 8,979 shares, worth roughly $0.71 million.

Loop Capital downgraded its Cirrus Logic Inc. [CRUS] rating to a Hold from a a Buy in a research note published on Tuesday, May 22, 2023; the price target was decreased to $80 from $92. PT values the company’s stock at a premium of 0.75 to its Tuesday closing price.

Price Performance Review of CRUS

On Tuesday, Cirrus Logic Inc. [NASDAQ:CRUS] saw its stock fall -4.25% to $79.40. On the same session, the stock had its day’s lowest price of $78.80, but rose to a high of $82.40. Over the last five days, the stock has lost -0.06%. Cirrus Logic Inc. shares have risen nearly 6.61% since the year began. Nevertheless, the stocks have risen 7.25% over the past one year. While a 52-week high of $111.15 was reached on 03/30/23, a 52-week low of $61.94 was recorded on 01/03/23. SMA at 50 days reached $79.93, while 200 days put it at $85.52. A total of 0.59 million shares were traded, compared to the trading of 0.18 million shares in the previous session.

Levels Of Support And Resistance For CRUS Stock

The 24-hour chart illustrates a support level at 78.00, which if violated will result in even more drops to 76.60. On the upside, there is a resistance level at 81.60. A further resistance level may holdings at 83.80. The Relative Strength Index (RSI) on the 14-day chart is 48.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.98, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 55.47%. Stochastics %K at 78.97% indicates the stock is a holding.

How much short interest is there in Cirrus Logic Inc.?

A steep rise in short interest was recorded in Cirrus Logic Inc. stocks on Aug 14, 2023, dropping by 60000.0 shares to a total of 1.17 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.23 million shares. There was a decline of -5.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.92% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.25.

Cirrus Logic Inc. [CRUS] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 6,771,851 shares, or roughly 12.38% of the outstanding CRUS shares. In other words, the investor’s shares have fallen by -1,009,503 from its previous 13-F filing of 7781354.0. Additionally, The Vanguard Group, Inc. increased 1.37% of its stake after which the total value it holdings stand at $494,299,090, while BlackRock Fund Advisors reduced -3.59% of its stake to hold $361.68 million in the firm. Over the last quarter, Mackenzie Financial Corp. purchased 4,016 shares of Cirrus Logic Inc., while SSgA Funds Management, Inc. bought 137,227 shares. At present, Wellington Management Co. LLP is holding 1,693,895 shares valued at $136.87 million. Dimensional Fund Advisors LP owned 1,399,428 shares of the company at the time of its most recent 13F filing, worth $113.07 million.

According to FactSet, Cirrus Logic Inc.’s share price will average $94.94 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.57 percent from its previous closing price of $82.92. Analysts expect Cirrus Logic Inc. stock to reach the higher price of $110.00, while the lowest price estimate is $83.00. However, 10 analysts have rated CRUS stock as an Overweight in their predictions for 2023.


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