Cirrus Logic, Inc. $CRUS Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Cirrus Logic by 4.3% during the first quarter, selling 53,844 shares and retaining approximately 1,193,691 shares valued at $118.95 million.
• Cirrus Logic reported an earnings per share of $1.51 for the latest quarter, significantly exceeding the consensus estimate of $1.07, resulting in a net revenue of $407.27 million.
• The company authorized a $500 million stock buyback plan, indicating confidence in its stock value, which allows for the reacquisition of up to 9.6% of its shares.

Dimensional Fund Advisors LP lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,193,691 shares of the semiconductor company's stock after selling 53,844 shares during the period. Dimensional Fund Advisors LP owned approximately 2.25% of Cirrus Logic worth $118,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. grew its holdings in shares of Cirrus Logic by 16.0% in the first quarter. Fox Run Management L.L.C. now owns 8,956 shares of the semiconductor company's stock worth $893,000 after acquiring an additional 1,238 shares during the period. Kovitz Investment Group Partners LLC increased its stake in Cirrus Logic by 4.2% in 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. Nuveen LLC bought a new position in shares of Cirrus Logic in the first quarter worth about $49,364,000. Entropy Technologies LP bought a new position in Cirrus Logic in the 1st quarter worth approximately $753,000. Finally, Covestor Ltd boosted its position in shares of Cirrus Logic by 50.1% during the first quarter. Covestor Ltd now owns 1,587 shares of the semiconductor company's stock worth $158,000 after acquiring an additional 530 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CRUS. Barclays increased their target price on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 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 $1,000,000.00. Following the transaction, the executive vice president owned 14,001 shares in the company, valued at approximately $1,400,100. This represents a 41.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president owned 41,645 shares in the company, valued at approximately $4,164,500. This trade represents a 4.58% decrease in their position. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by corporate insiders.

Cirrus Logic Price Performance

Cirrus Logic stock traded up $0.20 during mid-day trading on Wednesday, reaching $116.93. 277,768 shares of the company traded hands, compared to its average volume of 637,407. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 18.29 and a beta of 0.92. The firm's fifty day moving average is $106.52 and its two-hundred day moving average is $101.78.

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

Cirrus Logic declared that its Board of Directors has authorized a stock buyback 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 buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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.