Moran Wealth Management LLC Sells 3,571 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Moran Wealth Management LLC reduced its stake in Cirrus Logic by 6.6%, owning 50,783 shares worth approximately $5.3 million after selling 3,571 shares during the second quarter.
• Cirrus Logic reported earnings of $1.51 per share for the recent quarter, surpassing analysts' expectations of $1.07 and showing an 8.9% increase in revenue year-over-year, totaling $407.27 million.
• The company has received mixed analyst ratings with a consensus of "Moderate Buy", and recent analyst price targets ranging from $120.00 to $130.00 per share.

Moran Wealth Management LLC lessened its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,783 shares of the semiconductor company's stock after selling 3,571 shares during the quarter. Moran Wealth Management LLC owned 0.10% of Cirrus Logic worth $5,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Cirrus Logic during the 1st quarter valued at about $30,000. RMG Wealth Management LLC bought a new stake in Cirrus Logic during the 2nd quarter valued at about $30,000. Ameritas Advisory Services LLC bought a new stake in Cirrus Logic during the 2nd quarter valued at about $31,000. Geneos Wealth Management Inc. lifted its holdings in Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock valued at $47,000 after buying an additional 232 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Cirrus Logic during the 1st quarter valued at about $50,000. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

Shares of CRUS opened at $120.98 on Wednesday. The company has a 50 day moving average price of $117.36 and a 200-day moving average price of $105.71. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $129.56. The stock has a market capitalization of $6.21 billion, a PE ratio of 18.93 and a beta of 1.09.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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 analysts' expectations of $361.97 million. During the same quarter in the prior year, the company earned $1.12 EPS. The company's revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. Equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, EVP Denise Grode sold 2,202 shares of Cirrus Logic stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $116.87, for a total value of $257,347.74. Following the transaction, the executive vice president owned 5,698 shares of the company's stock, valued at $665,925.26. The trade was a 27.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 32,453 shares of company stock valued at $3,821,790 in the last 90 days. Insiders own 1.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cirrus Logic in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered 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 two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Cirrus Logic 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.

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