Element Capital Management LLC Acquires Shares of 26,394 Cirrus Logic, Inc. $CRUS

Key Points

• Element Capital Management LLC has acquired a new position in Cirrus Logic, Inc. by purchasing 26,394 shares, valued at approximately $2.63 million.
• Insider transactions included notable sales, with EVP Carl Jackson Alberty selling 2,000 shares for $200,000 and Director Alexander M. Davern selling 1,000 shares for $105,620, reflecting a decrease in their ownership.
• Analysts have set an average target price of $121.00 for Cirrus Logic, with five analysts giving a "buy" rating after the company reported strong earnings results.

Element Capital Management LLC purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,394 shares of the semiconductor company's stock, valued at approximately $2,630,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CRUS. Advisory Services Network LLC raised its holdings in shares of Cirrus Logic by 126.0% in the 4th quarter. Advisory Services Network LLC now owns 3,546 shares of the semiconductor company's stock valued at $353,000 after acquiring an additional 1,977 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cirrus Logic in the 4th quarter valued at about $5,225,000. Sterling Capital Management LLC raised its holdings in shares of Cirrus Logic by 56.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,212 shares of the semiconductor company's stock valued at $320,000 after acquiring an additional 1,161 shares in the last quarter. Barclays PLC raised its holdings in shares of Cirrus Logic by 0.9% in the 4th quarter. Barclays PLC now owns 99,414 shares of the semiconductor company's stock valued at $9,899,000 after acquiring an additional 932 shares in the last quarter. Finally, Mariner LLC raised its holdings in shares of Cirrus Logic by 32.0% in the 4th quarter. Mariner LLC now owns 6,648 shares of the semiconductor company's stock valued at $662,000 after acquiring an additional 1,610 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRUS. Barclays raised their price target on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price target on Cirrus Logic in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

Insider Buying and Selling

In other news, EVP Carl Jackson Alberty sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president owned 41,645 shares in the company, valued at $4,164,500. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,400,100. The trade was a 41.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.16% of the company's stock.

Cirrus Logic Stock Performance

Shares of CRUS traded down $0.3190 on Wednesday, reaching $112.7910. The stock had a trading volume of 230,030 shares, compared to its average volume of 641,002. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.63 and a beta of 0.92. The company has a 50-day simple moving average of $105.25 and a 200-day simple moving average of $101.39. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.44. The company had revenue of $407.27 million during the quarter, compared to analysts' expectations of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Cirrus Logic Profile

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.