Andrew Brannan, who serves as the Executive Vice President of Worldwide Sales at Cirrus Logic, Inc. (NASDAQ: CRUS), completed a substantial divestiture of company equity on June 29, 2026. The transaction involved the sale of 6,464 shares of Cirrus Logic common stock, resulting in a total proceeds value of $935,405. This sale was executed pursuant to a Rule 10b5-1 trading plan that Brannan originally adopted on February 27, 2026. The shares were liquidated at a weighted average price of $144.71 per share, with individual transaction prices varying between $144.76 and $147.73. As of the reporting period, the stock is trading at $148.55, reflecting a 7.24% decline over the preceding week. Market analysis suggests that Cirrus Logic may currently be undervalued, supported by a price-to-earnings ratio of 18.92 and a price-earnings-to-growth ratio of 0.58, metrics highlighted in recent comprehensive research reports.
Concurrent with the sale, Brannan also acquired 6,464 shares of Cirrus Logic common stock through the exercise of non-qualified stock options. These options carried an exercise price of $88.00 per share, totaling $568,832. The options were fully vested and exercisable as of March 2, 2026, and remain valid until their expiration date of March 2, 2032. This acquisition was also conducted under the same Rule 10b5-1 plan. Following these combined transactions, Brannan's direct holding of Cirrus Logic common stock stands at 7,203 shares.
In other recent developments, Cirrus Logic reported robust financial results for the fourth quarter of 2026. The company surpassed earnings expectations with an earnings per share of $1.95, outperforming the forecasted $1.75. Revenue also exceeded projections, reaching $448.5 million compared to the anticipated $440.44 million. These results underscore a strong quarterly performance. Additionally, Stifel reiterated a Buy rating for Cirrus Logic, maintaining a price target of $197.00. The firm emphasized Cirrus Logic's strategic positioning in edge artificial intelligence applications, particularly in enhancing voice interfaces for AI-enabled personal computers. This development has garnered interest from leading original equipment manufacturers and PC platform vendors, highlighting the company's potential in the evolving tech landscape.