Element Capital Management LLC Makes New $2.63 Million Investment in 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 position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 bought and sold shares of CRUS. May Hill Capital LLC boosted its stake in shares of Cirrus Logic by 5.4% in the first quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 113 shares during the period. Beverly Hills Private Wealth LLC lifted its holdings in Cirrus Logic by 3.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company's stock worth $343,000 after buying an additional 124 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Cirrus Logic by 4.2% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,769 shares of the semiconductor company's stock worth $376,000 after buying an additional 151 shares in the last quarter. Allworth Financial LP boosted its position in Cirrus Logic by 2.5% in the 1st quarter. Allworth Financial LP now owns 6,246 shares of the semiconductor company's stock valued at $577,000 after buying an additional 154 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cirrus Logic by 17.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after acquiring an additional 155 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business'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 $1,000,000.00. Following the completion of the sale, the executive vice president owned 14,001 shares in the company, valued at approximately $1,400,100. The trade was a 41.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carl Jackson Alberty sold 2,000 shares of the 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 $200,000.00. Following the completion of the sale, the executive vice president directly owned 41,645 shares of the company's stock, valued at $4,164,500. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRUS shares. Barclays lifted their target price 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 objective on Cirrus Logic in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cirrus Logic presently has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Cirrus Logic Stock Performance

CRUS stock traded down $0.2750 during midday trading on Thursday, reaching $112.5450. 116,508 shares of the company were exchanged, compared to its average volume of 639,133. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 17.62 and a beta of 0.92. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The stock's 50-day simple moving average is $105.46 and its 200 day simple moving average is $101.47.

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

Cirrus Logic announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board 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.