Millennium Management LLC Has $37.31 Million Stake in Cirrus Logic, Inc. $CRUS

Key Points

• Millennium Management LLC increased its holdings in Cirrus Logic by 34.2% in Q1, owning 374,368 shares valued at approximately $37.3 million.
• Several institutional investors, including AQR Capital Management and Ameriprise Financial, have also significantly increased their stakes in Cirrus Logic during the same period.
• Cirrus Logic reported an earnings beat with $1.51 EPS against an estimated $1.07, and revenue of $407.27 million, which was higher than expected.

Millennium Management LLC boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 34.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 374,368 shares of the semiconductor company's stock after acquiring an additional 95,452 shares during the quarter. Millennium Management LLC owned approximately 0.70% of Cirrus Logic worth $37,308,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its holdings in Cirrus Logic by 69.4% during the 1st quarter. EP Wealth Advisors LLC now owns 5,644 shares of the semiconductor company's stock worth $562,000 after acquiring an additional 2,312 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Cirrus Logic in the 1st quarter valued at about $251,000. Man Group plc boosted its stake in shares of Cirrus Logic by 4.7% in the 4th quarter. Man Group plc now owns 110,007 shares of the semiconductor company's stock valued at $10,954,000 after purchasing an additional 4,976 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of 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 purchasing an additional 290 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in shares of Cirrus Logic in the 1st quarter valued at about $360,000. Institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRUS. Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction that occurred on 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 sale, the executive vice president directly owned 14,001 shares in the company, valued at $1,565,031.78. This trade represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.16% of the stock is owned by company insiders.

Cirrus Logic Trading Up 0.4%

Shares of NASDAQ CRUS traded up $0.48 during midday trading on Monday, reaching $117.27. The company's stock had a trading volume of 53,098 shares, compared to its average volume of 627,344. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $129.94. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 18.37 and a beta of 1.02. The stock has a 50 day simple moving average of $108.66 and a 200-day simple moving average of $102.41.

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

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.