Jacobs Levy Equity Management Inc. Has $36.58 Million Holdings in Cirrus Logic, Inc. $CRUS

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% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,082 shares of the semiconductor company's stock after selling 55,354 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.69% of Cirrus Logic worth $36,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hancock Whitney Corp increased its holdings in shares of Cirrus Logic by 5.5% during the 1st quarter. Hancock Whitney Corp now owns 7,612 shares of the semiconductor company's stock worth $759,000 after purchasing an additional 399 shares during the period. EFG Asset Management North America Corp. increased its holdings in shares of Cirrus Logic by 31.6% during the 1st quarter. EFG Asset Management North America Corp. now owns 23,019 shares of the semiconductor company's stock worth $2,293,000 after purchasing an additional 5,526 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Cirrus Logic by 91.5% during the 1st quarter. Alliancebernstein L.P. now owns 166,076 shares of the semiconductor company's stock worth $16,550,000 after purchasing an additional 79,348 shares during the period. AQR Capital Management LLC increased its holdings in shares of Cirrus Logic by 131.5% during the 1st quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company's stock worth $103,456,000 after purchasing an additional 604,337 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in shares of Cirrus Logic by 450.6% during the 1st quarter. Dark Forest Capital Management LP now owns 37,067 shares of the semiconductor company's stock worth $3,694,000 after purchasing an additional 30,335 shares during the period. Institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the sale, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,565,031.78. The trade was a 41.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.16% of the company's stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded down $1.01 during trading on Tuesday, hitting $116.42. 586,018 shares of the company's stock traded hands, compared to its average volume of 630,688. The firm's fifty day moving average price is $108.22 and its 200 day moving average price is $102.18. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $137.73. The company has a market cap of $5.98 billion, a PE ratio of 18.22 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued 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 business had revenue of $407.27 million for the quarter, compared to analyst estimates of $361.97 million. During the same period in the previous year, the business 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 anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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.