Cirrus Logic, Inc. $CRUS Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Cirrus Logic, Inc. by 13.1%, holding 367,082 shares after selling 55,354 shares, valued at approximately $36.58 million.
• In a recent report, Wall Street Zen downgraded Cirrus Logic from a "strong-buy" to a "buy" rating, while maintaining a consensus price target of $121.00.
• Cirrus Logic reported Q1 earnings that exceeded expectations, with an EPS of $1.51 and revenue of $407.27 million, showcasing an 8.9% year-over-year growth.

Jacobs Levy Equity Management Inc. lessened its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 367,082 shares of the semiconductor company's stock after selling 55,354 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.69% of Cirrus Logic worth $36,582,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in Cirrus Logic by 23.6% in the fourth quarter. Northern Trust Corp now owns 471,122 shares of the semiconductor company's stock valued at $46,914,000 after acquiring an additional 90,017 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Cirrus Logic by 46.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,225 shares of the semiconductor company's stock valued at $819,000 after acquiring an additional 2,620 shares during the period. Ameriprise Financial Inc. lifted its holdings in Cirrus Logic by 20.9% in the fourth quarter. Ameriprise Financial Inc. now owns 564,357 shares of the semiconductor company's stock valued at $56,199,000 after acquiring an additional 97,742 shares during the period. Cetera Investment Advisers lifted its holdings in Cirrus Logic by 30.3% in the fourth quarter. Cetera Investment Advisers now owns 2,767 shares of the semiconductor company's stock valued at $276,000 after acquiring an additional 643 shares during the period. Finally, Crestline Management LP acquired a new stake in Cirrus Logic in the fourth quarter valued at $279,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total value of $1,117,800.00. Following the completion of the transaction, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. The trade was a 41.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded 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's stock. According to MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $1.97 during mid-day trading on Thursday, hitting $114.64. 150,874 shares of the company's stock traded hands, compared to its average volume of 628,171. The firm's 50 day simple moving average is $108.43 and its 200 day simple moving average is $102.35. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $137.73. The company has a market cap of $5.88 billion, a PE ratio of 17.96 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.44. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The firm had revenue of $407.27 million during the quarter, compared to the consensus estimate of $361.97 million. During the same period last year, the firm posted $1.12 EPS. The firm'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, research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic Company Profile

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.