The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cirrus Logic, Inc shares valued at $2,125,555 were purchased by HANFORD DEIRDRE on Aug 20 ’24. At $137.00 per share, HANFORD DEIRDRE acquired 15,515 shares.
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Also, Brannan Andrew sold 4,000 shares, netting a total of over 559,760 in proceeds. Following the sale of shares at $139.94 each, the insider now holds 3,530 shares.
Before that, Alberty Carl Jackson had sold 1,033 shares from its account. In a trade valued at $145,674, the VP, MSP traded Cirrus Logic, Inc shares for $141.02 each. Upon closing the transaction, the insider’s holdings decreased to 1,033 shares, worth approximately $3.99 million.
As published in a research note from Barclays on October 10, 2024, Cirrus Logic, Inc [CRUS] has been rated down from an Overweight to an Equal weight and the price target has been revised to $120 from $140. Analysts at The Benchmark Company downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. As of May 08, 2024, TD Cowen has reiterated its “Buy” rating for CRUS. Earlier on February 07, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for CRUS stock.
Analyzing CRUS Stock Performance
During the last five days, there has been a drop of approximately -8.85%. Over the course of the year, Cirrus Logic, Inc shares have jumped approximately 25.15%. Shares of the company reached a 52-week high of $147.46 on 08/29/24 and a 52-week low of $75.92 on 02/02/24. A 50-day SMA is recorded $124.04, while a 200-day SMA reached $111.78. Nevertheless, trading volume fell to 1.09 million shares from 1.95 million shares the previous day.
Support And Resistance Levels for Cirrus Logic, Inc (CRUS)
According to the 24-hour chart, there is a support level at 102.26, which, if violated, would cause prices to drop to 100.41. In the upper region, resistance lies at 105.98. The next price resistance is at 107.85. RSI (Relative Strength Index) is 28.48 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.75, which suggests the price will decrease in the coming days. Percent R is at 84.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
