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Cirrus Logic, Inc. [CRUS] Investment Appeal on the Rise

CHWY Stock

Cirrus Logic, Inc.’s recently made public that its SVP, Global Operations Dougherty Justin E unloaded Company’s shares for reported $0.43 million on May 13 ’24. In the deal valued at $107.85 per share,4,000 shares were sold. As a result of this transaction, Dougherty Justin E now holds 5,838 shares worth roughly $0.63 million.

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Then, Dougherty Justin E sold 3,280 shares, generating $299,792 in total proceeds. Upon selling the shares at $91.40, the SVP, Global Operations now owns 6,000 shares.

Before that, THOMAS SCOTT sold 5,043 shares. Cirrus Logic, Inc. shares valued at $455,736 were divested by the Sr VP, General Counsel at a price of $90.37 per share. As a result of the transaction, THOMAS SCOTT now holds 20,554 shares, worth roughly $2.22 million.

TD Cowen reiterated its Cirrus Logic, Inc. [CRUS] rating to a Buy in a research note published on May 08, 2024; the price target was $115. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early February has reiterated a ‘”an Outperform”‘ rating for it. Loop Capital also remained covering CRUS and has increased its forecast on November 01, 2023 with a “Buy” recommendation from previously “Hold” rating. Loop Capital revised its rating on May 22, 2023. It rated CRUS as “a Hold” which previously was an “a Buy”.

Price Performance Review of CRUS

On Monday, Cirrus Logic, Inc. [NASDAQ:CRUS] saw its stock jump 1.55% to $107.78. Over the last five days, the stock has gained 19.73%. Cirrus Logic, Inc. shares have risen nearly 29.56% since the year began. Nevertheless, the stocks have risen 37.69% over the past one year. While a 52-week high of $107.01 was reached on 05/13/24, a 52-week low of $65.02 was recorded on 02/02/24. SMA at 50 days reached $90.68, while 200 days put it at $81.40. A total of 0.58 million shares were traded, compared to the trading of 0.68 million shares in the previous session.

Levels Of Support And Resistance For CRUS Stock

The 24-hour chart illustrates a support level at 106.12, which if violated will result in even more drops to 104.47. On the upside, there is a resistance level at 108.84. A further resistance level may holdings at 109.91. The Relative Strength Index (RSI) on the 14-day chart is 76.41, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 13.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.93%. Stochastics %K at 97.51% indicates the stock is a selling.

The most recent change occurred on May 05, 2023 when TD Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $100.

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