Hussman Strategic Advisors Inc. Purchases New Shares in Cirrus Logic, Inc. $CRUS

Key Points

• Hussman Strategic Advisors bought a new stake of 10,500 shares in Cirrus Logic (CRUS) during Q4, valued at about $1.24 million, and institutional investors now own roughly 87.96% of the company.
• Significant insider selling has occurred recently: CEO John Forsyth sold 21,806 shares (~$2.95M) and EVP Scott Thomas sold 9,942 shares (~$1.59M), with insiders selling 37,987 shares (~$5.43M) in the past 90 days and now owning about 1.16% of the stock.
• Cirrus Logic posted a quarterly earnings beat (EPS $2.97 vs. $2.37 est.; revenue $580.6M vs. $531.4M est.), and the stock trades near its 12‑month high with a market cap of $8.38B; analysts’ consensus is a “Moderate Buy” with an average price target of $152.14.

Hussman Strategic Advisors Inc. purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,500 shares of the semiconductor company's stock, valued at approximately $1,244,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the 4th quarter valued at $33,000. Torren Management LLC bought a new position in Cirrus Logic in the 4th quarter valued at $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the 3rd quarter valued at $46,000. Rothschild Investment LLC bought a new position in Cirrus Logic in the 3rd quarter valued at $48,000. Finally, Geneos Wealth Management Inc. grew its position in Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In other news, CEO John Forsyth sold 21,806 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the transaction, the chief executive officer owned 50,723 shares of the company's stock, valued at approximately $6,855,213.45. This represents a 30.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Thomas sold 9,942 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total value of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares in the company, valued at $4,866,223.23. The trade was a 24.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 37,987 shares of company stock valued at $5,427,114. 1.16% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Performance

CRUS opened at $164.24 on Monday. Cirrus Logic, Inc. has a 12-month low of $91.32 and a 12-month high of $175.77. The business's fifty day simple moving average is $148.45 and its 200-day simple moving average is $133.85. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 21.64 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The business had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. During the same quarter in the prior year, the company earned $2.51 EPS. The business's revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Cirrus Logic, Inc. will post 7.76 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on CRUS shares. Barclays upped their price objective on Cirrus Logic from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Zacks Research downgraded Cirrus Logic from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Loop Capital downgraded Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a research report on Monday, February 2nd. KeyCorp upped their price objective on Cirrus Logic from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, April 6th. Finally, Stifel Nicolaus upped their price objective on Cirrus Logic from $163.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $152.14.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.