Versor Investments LP Decreases Stock Holdings in Cirrus Logic, Inc. $CRUS

Key Points

• Versor Investments LP reduced its stake in Cirrus Logic, Inc. by 59.0%, holding 3,200 shares valued at approximately $319,000 after selling 4,600 shares in the first quarter.
• Notable hedge fund activity includes Castlekeep Investment Advisors LLC acquiring a new stake valued at around $170.8 million, while Deutsche Bank AG increased its stake by 139.4%, now owning 586,733 shares.
• Cirrus Logic reported Q1 earnings of $1.51 EPS, exceeding estimates, with the company setting a $500 million stock buyback program to repurchase up to 9.6% of its stock, indicating management's belief its shares are undervalued.

Versor Investments LP lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 59.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,200 shares of the semiconductor company's stock after selling 4,600 shares during the period. Versor Investments LP's holdings in Cirrus Logic were worth $319,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CRUS. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $170,796,000. Nuveen LLC bought a new position in Cirrus Logic in the 1st quarter worth approximately $49,364,000. Deutsche Bank AG boosted its holdings in Cirrus Logic by 139.4% in the 4th quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock worth $58,427,000 after buying an additional 341,615 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cirrus Logic by 228.8% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,495 shares of the semiconductor company's stock worth $43,068,000 after buying an additional 300,942 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Cirrus Logic by 12.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after buying an additional 196,483 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

Insiders Place Their Bets

In related news, EVP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.16% of the stock is owned by company insiders.

Cirrus Logic Price Performance

NASDAQ:CRUS traded up $0.47 during trading hours on Wednesday, hitting $117.20. The stock had a trading volume of 531,754 shares, compared to its average volume of 646,196. The company has a 50 day simple moving average of $106.78 and a two-hundred day simple moving average of $101.88. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 18.34 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $407.27 million for the quarter, compared to analysts' expectations of $361.97 million. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. Equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic declared that its Board of Directors has approved a share repurchase program on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Cirrus Logic Company 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.