Cirrus Logic Inc (CRUS): Scott Thomas , VP General Counsel of Cirrus Logic Inc sold 50,000 shares on Jun 21, 2016. The Insider selling transaction was reported by the company on Jun 23, 2016 to the Securities and Exchange Commission. The shares were sold at $40.00 per share for a total value of $2,000,000.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 3, 2016, William D Sherman (director) sold 276 shares at $36.14 per share price.On May 25, 2016, Scott Arnold Anderson (SVP & GM Mixed Signal Audio) sold 25,000 shares at $35.22 per share price.Also, On May 24, 2016, Jason P Rhode (President & CEO) sold 50,000 shares at $34.42 per share price.On May 6, 2016, Timothy R Dehne (director) sold 6,462 shares at $35.30 per share price.
Cirrus Logic: On Tuesday, Jun 21, 2016 heightened volatility was witnessed in Cirrus Logic which led to swings in the share price. The shares opened for trading at $39.07 and hit $40.25 on the upside , eventually ending the session at $39.74, with a gain of 3.65% or 1.4 points. The heightened volatility saw the trading volume jump to 33,84,830 shares. The 52-week high of the share price is $40.25 and the company has a market cap of $2,473 M . The 52-week low of the share price is at $24.5701.
Company has been under the radar of several Street Analysts.Cirrus Logic is Downgraded by Barclays to Equal Weight while Lowering the Price Target of the company shares to $ 35 from a previous price target of $37 . Earlier the firm had a rating of Overweight on the company shares. The Rating was issued on May 5, 2016.
Cirrus Logic Inc. (Cirrus Logic) develops high-precision analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio automotive entertainment and targeted industrial applications including energy control energy measurement light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States Europe and Asia including the Peoples Republic of China Hong Kong South Korea Japan Singapore Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control energy measurement LED lighting and energy exploration applications.