Counterpoint Mutual Funds LLC Buys New Position in Cirrus Logic, Inc. $CRUS

Key Points

• Counterpoint Mutual Funds LLC has established a new position in Cirrus Logic, Inc. by acquiring 3,053 shares valued at approximately $318,000.
• Insider trading activity revealed that executives Scott Thomas and Jeffrey W. Baumgartner sold significant amounts of stock, reducing their ownership by 29.65% and 39.55%, respectively.
• Cirrus Logic's latest quarterly earnings exceeded expectations with $1.51 earnings per share, outperforming analysts' estimates of $1.07, and showing a revenue increase of 8.9% year-over-year.

Counterpoint Mutual Funds LLC bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 3,053 shares of the semiconductor company's stock, valued at approximately $318,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Cirrus Logic in the 1st quarter worth approximately $629,000. Strs Ohio acquired a new position in shares of Cirrus Logic in the 1st quarter worth approximately $1,434,000. Millennium Management LLC grew its position in shares of Cirrus Logic by 34.2% in the 1st quarter. Millennium Management LLC now owns 374,368 shares of the semiconductor company's stock worth $37,308,000 after acquiring an additional 95,452 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Cirrus Logic in the 1st quarter worth approximately $358,000. Finally, Bayforest Capital Ltd grew its position in shares of Cirrus Logic by 923.2% in the 1st quarter. Bayforest Capital Ltd now owns 6,743 shares of the semiconductor company's stock worth $672,000 after acquiring an additional 6,084 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cirrus Logic news, EVP Scott Thomas sold 11,089 shares of the business's 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 transaction, the executive vice president owned 26,307 shares in the company, valued at $3,196,037.43. The trade was a 29.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 9,162 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $1,099,440.00. Following the transaction, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,680,120. This represents a 39.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,453 shares of company stock worth $3,821,790. Corporate insiders own 1.16% of the company's stock.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several research reports. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Stifel Nicolaus lifted their target price on Cirrus Logic from $120.00 to $130.00 and gave the stock 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

Cirrus Logic Stock Performance

CRUS opened at $126.37 on Thursday. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $129.07. The stock's fifty day moving average is $111.47 and its 200-day moving average is $103.42. The company has a market capitalization of $6.49 billion, a PE ratio of 19.78 and a beta of 1.02.

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