Cirrus Logic Inc's (NASDAQ:CRUS) Vice President of Worldwide Sales, Andrew Brannan, has recently sold a significant portion of his company stock, according to the latest filings. Brannan offloaded a total of 4,824 shares in two separate transactions on August 14 and 15. The sales were executed at prices ranging from $136.04 to $139.96 per share, amounting to a combined total of approximately $657,115.
On the first day, Brannan sold 4,350 shares at $136.04 each, resulting in a total transaction value of $591,774. The following day, he sold an additional 474 shares at a higher price of $139.96 per share, totaling $66,341. The transactions were part of a prearranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan for buying or selling stocks at a time when they are not in possession of material non-public information.
The recent sale has adjusted Brannan's holdings in Cirrus Logic, a semiconductor company specializing in analog and mixed-signal circuits. Following the transactions, he remains a significant shareholder with 3,530 shares still under his direct ownership.
Investors and market watchers often look to insider buying and selling as a signal of a company's prospects. In this case, Brannan's sale might draw attention, but it's worth noting that such sales can occur for a variety of reasons and do not necessarily indicate a lack of confidence in the company's future.
Cirrus Logic Inc. , headquartered in Austin, Texas, continues to be a key player in the semiconductor industry, and its stock performance is closely monitored by investors interested in the tech sector.
In other recent news, Cirrus Logic reported a Q1 FY 2025 revenue of $374 million, exceeding market expectations. This success is attributed to strong smartphone shipments. The company also projected a promising Q2 FY 2025 revenue, estimated between $490 million to $550 million. Cirrus Logic is focusing on maintaining its leadership in smartphone audio and expanding into the laptop market, alongside investing in power and battery technology R&D. The company is ramping up production of its next-generation custom boosted amplifier and 22-nanometer smart codec. Executives expressed excitement for the PC market, particularly with the upcoming AI PC cycle. Cirrus Logic's gross margin is expected to slightly improve in the upcoming September quarter due to product mix and supply chain efforts. The company plans to release new versions of codecs and amplifiers later this year. Over 100 designs are currently in progress, with product launches targeted for 2025.
InvestingPro Insights
As investors scrutinize the recent sale of Cirrus Logic Inc (NASDAQ:CRUS) stock by Vice President of Worldwide Sales Andrew Brannan, it's essential to consider the company's financial health and market performance. Cirrus Logic boasts a robust balance sheet, as highlighted by an InvestingPro Tip that the company holds more cash than debt. This financial stability is a critical factor for investors, especially in the volatile semiconductor industry.
The company's stock has also seen a significant return over the last week, with a price total return of 7.74%. This performance is part of a broader positive trend, as Cirrus Logic has experienced a high return over the last year, with an impressive 79.23% increase. The stock is currently trading near its 52-week high, at 99.25% of this peak, which could signal investor confidence in the company's trajectory.
Analyzing the real-time data from InvestingPro, Cirrus Logic's market capitalization stands at $7.57 billion, with a P/E ratio of 25.52, reflecting its current earnings. The company's revenue growth for the last twelve months as of Q1 2025 was a modest 1.37%, but its quarterly revenue growth was much more robust at 17.98%. These figures suggest that Cirrus Logic is maintaining a steady financial performance with potential for growth.
For those interested in diving deeper into Cirrus Logic's prospects and performance metrics, InvestingPro offers a comprehensive list of additional tips. Currently, there are 15 more InvestingPro Tips available, which can provide valuable insights for investors considering this stock. Visit https://www.investing.com/pro/CRUS for an in-depth analysis.
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