EntryPoint Capital LLC Sells 2,528 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• EntryPoint Capital LLC reduced its holdings in Cirrus Logic by 47.8%, selling 2,528 shares for a total of $275,000.
• Analysts have expressed positive sentiment on Cirrus Logic, with four investment analysts issuing a Buy rating and raising the average target price to $121.00.
• Cirrus Logic recently announced a $500 million stock buyback program, signaling management's belief that the stock is undervalued.

EntryPoint Capital LLC trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 47.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,760 shares of the semiconductor company's stock after selling 2,528 shares during the period. EntryPoint Capital LLC's holdings in Cirrus Logic were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in Cirrus Logic during the 1st quarter worth approximately $30,000. N.E.W. Advisory Services LLC bought a new position in Cirrus Logic during the 1st quarter worth $50,000. UMB Bank n.a. increased its stake in Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 290 shares during the period. Menard Financial Group LLC bought a new position in Cirrus Logic during the 4th quarter worth $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after acquiring an additional 155 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent research reports. Barclays raised their price objective on Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered 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 target on Cirrus Logic in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $121.00.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's 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 $1,000,000.00. Following the completion of the sale, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,400,100. The trade was a 41.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Carl Jackson Alberty sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the sale, the executive vice president directly owned 41,645 shares of the company's stock, valued at $4,164,500. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.16% of the company's stock.

Cirrus Logic Trading Down 1.2%

Cirrus Logic stock traded down $1.37 during midday trading on Monday, reaching $116.01. The stock had a trading volume of 276,509 shares, compared to its average volume of 619,360. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The company has a market capitalization of $5.95 billion, a P/E ratio of 18.15 and a beta of 0.92. The company has a fifty day moving average price of $106.25 and a two-hundred day moving average price of $101.67.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 EPS 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 period in the previous year, the company posted $1.12 EPS. The firm's revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic declared that its board has approved a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically 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.