Strs Ohio Takes $1.43 Million Position in Cirrus Logic, Inc. $CRUS

Key Points

• Strs Ohio has acquired 14,391 shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the first quarter, with the investment valued at approximately $1,434,000.
• Cirrus Logic reported $1.51 EPS for the last quarter, exceeding analysts' expectations of $1.07, and demonstrated an 8.9% year-over-year revenue increase.
• The stock's consensus rating is "Moderate Buy", with a target price set at $123.00, following a recent downgrade from "strong-buy" by analysts.

Strs Ohio purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,391 shares of the semiconductor company's stock, valued at approximately $1,434,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRUS. Banque Cantonale Vaudoise purchased a new stake in shares of Cirrus Logic in the first quarter worth about $30,000. Geneos Wealth Management Inc. increased its position in shares of Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 232 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Cirrus Logic in the first quarter worth approximately $50,000. UMB Bank n.a. increased its position in shares of Cirrus Logic by 124.5% in the first quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 290 shares during the last quarter. Finally, Menard Financial Group LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $67,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Scott Thomas sold 11,089 shares of Cirrus Logic stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $121.49, for a total value of $1,347,202.61. Following the completion of the sale, the executive vice president directly owned 26,307 shares in the company, valued at approximately $3,196,037.43. This trade represents a 29.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the completion of the sale, the executive vice president owned 14,001 shares of the company's stock, valued at $1,565,031.78. The trade was a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock worth $3,821,790 over the last three months. 1.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Stifel Nicolaus increased their price target on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.00.

Cirrus Logic Stock Down 2.1%

Shares of NASDAQ:CRUS traded down $2.63 on Friday, hitting $120.12. 1,675,707 shares of the company traded hands, compared to its average volume of 484,167. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $126.50. The stock has a 50 day simple moving average of $110.02 and a 200-day simple moving average of $102.98. The company has a market cap of $6.17 billion, a PE ratio of 18.80 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.44. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm had revenue of $407.27 million during the quarter, compared to the consensus estimate of $361.97 million. During the same period last year, the company earned $1.12 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.