Cirrus Logic VP sells over $145k in company stock

Cirrus Logic Inc. 's (NASDAQ:CRUS) Vice President of MSP, Carl Jackson Alberty, has sold a portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on August 19, involved the sale of 1,033 shares of common stock at a price of $141.02 per share, totaling approximately $145,673.

This sale was executed under a Rule 10b5-1 trading plan, which was previously adopted by Alberty on May 20, 2024. Rule 10b5-1 plans allow company insiders to set up a predetermined schedule for buying and selling stocks at a time when they are not in possession of material non-public information, providing a defense against potential allegations of insider trading.

Following this transaction, Alberty's remaining stake in Cirrus Logic Inc. consists of 38,311 shares of common stock. The company, headquartered in Austin, Texas, is known for its expertise in semiconductors and related devices, and continues to be a significant player in the tech industry.

Investors and market watchers often pay close attention to insider transactions as they can provide valuable insights into the company's performance and the confidence level of its senior executives. The details of such transactions are typically made public through filings with the SEC, offering transparency into the trading activities of company insiders.

Cirrus Logic Inc. has not made any official statement regarding this recent stock sale by VP Carl Jackson Alberty. The company's stock performance continues to be subject to a variety of market forces, including overall industry trends and individual company developments.

In other recent news, Cirrus Logic Inc. has reported robust Q1 FY 2025 revenues of $374 million, surpassing market expectations, primarily driven by strong smartphone shipments. The company has also provided a positive revenue forecast for Q2 FY 2025, estimating it to be between $490 million to $550 million. Cirrus Logic's strategic focus includes maintaining leadership in smartphone audio, expanding into the laptop market, and investing in power and battery technology R&D. The company expects a slight improvement in gross margins for the upcoming September quarter, attributed to product mix and supply chain optimization. Cirrus Logic is also ramping up production of its next-generation custom boosted amplifier and 22-nanometer smart codec. The company is optimistic about its growth, with over 100 designs currently in progress and product launches targeted for 2025. These are the recent developments in the company's operations.

InvestingPro Insights

Amidst the news of Cirrus Logic Inc.'s (NASDAQ:CRUS) Vice President of MSP, Carl Jackson Alberty, selling a portion of his holdings, the company's financial health and market performance remain a key focus for investors. Cirrus Logic has been demonstrating a robust financial position, as highlighted by InvestingPro Tips, which note that the company holds more cash than debt on its balance sheet. This is a reassuring sign of financial stability and may contribute to investor confidence even as insiders execute planned stock sales.

Moreover, Cirrus Logic's trading activity suggests a positive outlook from the market, with the stock trading near its 52-week high and analysts predicting the company will be profitable this year. The company's stock performance reflects strong returns over the last three months and an impressive year-to-date price total return, signaling robust investor sentiment.

InvestingPro Data further enriches this perspective with key metrics: Cirrus Logic's market capitalization stands at $7.48 billion, and the company is trading at a price-to-earnings (P/E) ratio of 25.2, which is considered low relative to its near-term earnings growth. This could indicate that the stock is potentially undervalued given its growth prospects. Additionally, the company's revenue growth for the last quarter was 17.98%, showcasing its ability to expand its business in a competitive industry.

For investors seeking a more comprehensive analysis, InvestingPro offers additional tips on Cirrus Logic, providing deeper insights into the company's financial health and market performance. There are currently 13 additional InvestingPro Tips available, which can be accessed through the tailored InvestingPro product for Cirrus Logic at https://www.investing.com/pro/CRUS.

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