Cirrus Logic, Inc. $CRUS Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB has reduced its stake in Cirrus Logic, Inc. by 12%, now holding 22,638 shares valued at approximately $2.36 million.
• Cirrus Logic recently reported a Q3 earnings per share (EPS) of $1.51, significantly surpassing analyst expectations of $1.07.
• Wall Street analysts have given Cirrus Logic a consensus rating of "Moderate Buy" and set an average target price of $123.00.

E. Ohman J or Asset Management AB lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 12.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,638 shares of the semiconductor company's stock after selling 3,082 shares during the period. E. Ohman J or Asset Management AB's holdings in Cirrus Logic were worth $2,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in Cirrus Logic during the 1st quarter worth $30,000. Geneos Wealth Management Inc. grew its stake in shares of Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Cirrus Logic during the first quarter worth about $50,000. UMB Bank n.a. lifted its stake 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 acquiring an additional 290 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new position in Cirrus Logic in the fourth quarter valued at about $67,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRUS shares. Stifel Nicolaus lifted their price objective on Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the sale, the executive vice president owned 14,001 shares in the company, valued at $1,565,031.78. This represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.16% of the stock is currently owned by corporate insiders.

Cirrus Logic Trading Down 0.2%

Shares of NASDAQ CRUS opened at $116.58 on Tuesday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 18.24 and a beta of 1.02. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $129.94. The business has a 50 day simple moving average of $108.87 and a 200-day simple moving average of $102.49.

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

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.

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