Cubist Systematic Strategies LLC Increases Stock Holdings in Cirrus Logic, Inc. $CRUS

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Cirrus Logic, owning approximately 0.25% of the company with a value of $13.05 million after boosting its shares by over 3,800% in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Cirrus Logic, with an average price target set at $121.00, following positive quarterly earnings that exceeded expectations.
• Cirrus Logic has initiated a $500 million stock repurchase program, indicating the company's belief that its shares are undervalued, which allows it to buy back up to 9.6% of its outstanding shares.

Cubist Systematic Strategies LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 3,869.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 130,983 shares of the semiconductor company's stock after purchasing an additional 127,683 shares during the period. Cubist Systematic Strategies LLC owned about 0.25% of Cirrus Logic worth $13,053,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cirrus Logic in the first quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new position in Cirrus Logic during the 1st quarter valued at about $50,000. UMB Bank n.a. grew its position in Cirrus Logic by 124.5% in the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 290 shares in the last quarter. Menard Financial Group LLC purchased a new stake in Cirrus Logic during the fourth quarter worth about $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cirrus Logic by 17.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 155 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.00.

Cirrus Logic Stock Up 0.4%

NASDAQ CRUS traded up $0.46 during trading hours on Friday, hitting $115.72. 383,706 shares of the company were exchanged, compared to its average volume of 474,785. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 18.11 and a beta of 1.02. The company has a 50 day moving average of $107.96 and a two-hundred day moving average of $102.25. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $138.21.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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. 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 the consensus estimate of $361.97 million. During the same period in the previous year, the company posted $1.12 earnings per share. The business'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 predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the transaction, the executive vice president owned 14,001 shares of the company's stock, valued at $1,565,031.78. This represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.16% of the company's stock.

About Cirrus Logic

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.