HighTower Advisors LLC Sells 6,618 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• HighTower Advisors LLC has reduced its ownership in Cirrus Logic, Inc. by 34.9%, now holding 12,354 shares valued at $1.23 million.
• Cirrus Logic reported a strong earnings performance, with $1.51 earnings per share exceeding expectations of $1.07, and revenue growth of 8.9% year-over-year.
• The company initiated a $500 million share repurchase program, indicating management's belief that its stock is undervalued.

HighTower Advisors LLC trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 34.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,354 shares of the semiconductor company's stock after selling 6,618 shares during the quarter. HighTower Advisors LLC's holdings in Cirrus Logic were worth $1,231,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRUS. Banque Cantonale Vaudoise bought a new position in Cirrus Logic in the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new position in Cirrus Logic in the 1st quarter valued at about $50,000. UMB Bank n.a. raised its holdings 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 during the period. Menard Financial Group LLC bought a new position in Cirrus Logic in the 4th quarter valued at about $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cirrus Logic by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after acquiring an additional 155 shares during the period. 87.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CRUS shares. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a report on Wednesday, May 7th. Barclays increased their target price on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four investment 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $1.17 during trading hours on Friday, hitting $114.19. 356,305 shares of the stock were exchanged, compared to its average volume of 665,205. The company has a market cap of $5.86 billion, a PE ratio of 17.87 and a beta of 0.92. The company's fifty day simple moving average is $107.19 and its two-hundred day simple moving average is $102.03. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46.

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

Cirrus Logic declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity 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 transaction of $1,000,000.00. Following the sale, the executive vice president owned 14,001 shares in the company, valued at approximately $1,400,100. This trade represents a 41.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 sale, the executive vice president owned 41,645 shares in the company, valued at $4,164,500. This represents a 4.58% decrease in their position. The disclosure for this sale can be found here. Company 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.