Cirrus Logic, Inc.’s filing revealed that its SVP, Global Operations Dougherty Justin E unloaded Company’s shares for reported $0.3 million on Feb 22 ’24. In the deal valued at $91.40 per share,3,280 shares were sold. As a result of this transaction, Dougherty Justin E now holds 6,000 shares worth roughly $0.56 million.
Then, THOMAS SCOTT sold 5,043 shares, generating $455,736 in total proceeds. Upon selling the shares at $90.37, the Sr VP, General Counsel now owns 20,554 shares.
Before that, Brannan Andrew sold 3,250 shares. Cirrus Logic, Inc. shares valued at $305,500 were divested by the VP, Worldwide Sales at a price of $94.00 per share. As a result of the transaction, Brannan Andrew now holds 6,055 shares, worth roughly $0.57 million.
TD Cowen reiterated its Cirrus Logic, Inc. [CRUS] rating to an Outperform in a research note published on February 07, 2024; the price target was $100. A number of analysts have revised their coverage, including Loop Capital’s analysts, who increased its forecast for the stock in early November from “a Hold” to “a Buy”. Loop Capital also remained covering CRUS and has decreased its forecast on May 22, 2023 with a “Hold” recommendation from previously “Buy” rating. TD Cowen maintained its rating on May 05, 2023. It rated CRUS as “an Outperform”.
Price Performance Review of CRUS
On Tuesday, Cirrus Logic, Inc. [NASDAQ:CRUS] saw its stock jump 2.03% to $93.56. Over the last five days, the stock has gained 2.03%. Cirrus Logic, Inc. shares have risen nearly 12.47% since the year began. Nevertheless, the stocks have fallen -8.94% over the past one year. While a 52-week high of $103.90 was reached on 02/08/24, a 52-week low of $65.02 was recorded on 02/02/24. SMA at 50 days reached $89.41, while 200 days put it at $80.08. A total of 0.25 million shares were traded, compared to the trading of 0.22 million shares in the previous session.
Levels Of Support And Resistance For CRUS Stock
The 24-hour chart illustrates a support level at 92.73, which if violated will result in even more drops to 91.89. On the upside, there is a resistance level at 94.05. A further resistance level may holdings at 94.53. The Relative Strength Index (RSI) on the 14-day chart is 59.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.34%. Stochastics %K at 74.96% 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 Mar 28, 2024, dropping by 9360.0 shares to a total of 0.72 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 0.73 million shares. There was a decline of -1.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.9.
The most recent change occurred on April 24, 2023 when KeyBanc Capital Markets resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $110.
