Cirrus Logic Inc. (NASDAQ: CRUS) said Executive Vice President of Research and Development Jeffrey W. Baumgartner sold 1,166 shares of common stock for $137,459 on August 20 under a prearranged trading plan established on February 27.
The sale was executed at $117.89 per share, leaving Baumgartner with 14,073 shares remaining in his direct holdings. The company’s stock closed at $111.64 on August 21, down 3.69 points, or 3.20%, from the prior session.
Cirrus Logic reported revenue of $459.7 million for the first quarter of fiscal 2027, a 13% increase from the same period a year earlier but slightly below Wall Street’s $460.0 million estimate. Adjusted earnings reached $1.84 per share, exceeding the $1.82 forecast.
Analysts at Stifel maintained a Buy rating on the stock but lowered the price target to $160 from $197, citing guidance on revenue expectations. The shares have traded within a 52-week range of $109.88 to $154.70.
