Cirrus Logic, Inc. (NASDAQ:CRUS) Vice President of MSP, Carl Jackson Alberty, has sold 2,000 shares of the company's common stock on May 20, 2024, for a total value of $226,700, at an average price of $113.35 per share. This sale was disclosed in a recent filing with the Securities and Exchange Commission.
The transactions took place in multiple parts, with prices ranging from $113.33 to $113.39. Alberty's remaining holdings in the company following this sale amount to 38,507 shares of common stock.
In addition to the sale, Alberty also acquired a total of 837 shares of common stock through the exercise of options on May 22, 2024. The transactions are valued at a total of $62,416, with prices ranging between $68.56 and $78.00 per share. The exercised options are part of the company's incentive plan, which allows vested shares to be exercised by the executives.
The filing also noted that Alberty has vested options that could be exercised, with 25% having vested on March 3, 2022, and the remaining shares vesting monthly over the subsequent 36 months. The full vesting and exercisability of the option is expected by March 3, 2025. Another set of options had fully vested and became exercisable on November 6, 2023.
These insider transactions provide current and potential investors with up-to-date information on the financial moves of Cirrus Logic's executives. Carl Jackson Alberty's recent activities in the stock market reflect the ongoing financial dealings that are part of executive compensation and stock ownership within the company.
InvestingPro Insights
As investors analyze the recent insider transactions by Cirrus Logic, Inc.'s (NASDAQ:CRUS) Vice President of MSP, Carl Jackson Alberty, it's essential to consider the company's current financial health and market performance.
InvestingPro Data reveals that Cirrus Logic holds a market capitalization of $6.18 billion, with a P/E ratio of 22.54. These metrics indicate the company's valuation in the context of its earnings. Additionally, the company's Price to Book ratio stands at 3.38, which can offer insight into how the market values the company's net assets.
InvestingPro Tips provide further insight, indicating that Cirrus Logic is trading at a low P/E ratio relative to near-term earnings growth, suggesting potential value for investors considering the company's growth prospects. Furthermore, the company holds more cash than debt on its balance sheet, which could be a sign of financial stability and resilience.
For investors seeking a deeper analysis, InvestingPro offers additional tips that can help in making more informed investment decisions. For instance, the platform notes that analysts have revised their earnings upwards for the upcoming period, which could signal positive future performance. Additionally, Cirrus Logic is trading near its 52-week high and has shown a strong return over the last month.
For those interested in exploring these insights further, there are 14 additional InvestingPro Tips available for Cirrus Logic at https://www.investing.com/pro/CRUS. To enhance your experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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