Cirrus Logic (CRUS) : Traders are increasing their bearish positions on the stock, as is visible by the 21.6% jump in the outstanding short positions; a total addition of 712,123 shares on the sell side. On Jul 29, 2016, the total short positions were 3,295,426 shares, which went up to 4,007,549 shares by the close of trading on August 15, 2016. It will take 4 days for the bears to roll over or cover. An average of 971,614 shares exchange hands daily. 6.5% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Cirrus Logic (NASDAQ:CRUS): The stock opened at $51.86 on Wednesday but the bulls could not build on the opening and the stock topped out at $52.20 for the day. The stock traded down to $51.47 during the day, due to lack of any buying support eventually closed down at $51.64 with a loss of -0.69% for the day. The stock had closed at $52.00 on the previous day. The total traded volume was 376,261 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (President & CEO) of Cirrus Logic Inc, Rhode Jason P had sold 100,000 shares worth of $5,190,000 in a transaction dated August 15, 2016. In this transaction, 100,000 shares were sold at $51.9 per share.
Cirrus Logic, Inc. (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States, Europe and Asia, including the Peoples Republic of China, Hong Kong, South Korea, Japan, Singapore, Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control, energy measurement, LED lighting and energy exploration applications.