Cirrus Logic, Inc. $CRUS Shares Sold by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC has reduced its stake in Cirrus Logic, Inc. by 64.0%, bringing its holdings down to 2,654 shares valued at $277,000.
• Cirrus Logic's recent earnings report beat expectations with an EPS of $1.51, surpassing the consensus estimate of $1.07, and revenues increased 8.9% year-over-year to $407.27 million.
• Several hedge funds have recently altered their positions in Cirrus Logic, with organizations like Millennium Management LLC increasing their stake by 34.2% and Bayforest Capital Ltd boosting its holdings by an impressive 923.2%.

Pallas Capital Advisors LLC lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 64.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,654 shares of the semiconductor company's stock after selling 4,718 shares during the quarter. Pallas Capital Advisors LLC's holdings in Cirrus Logic were worth $277,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. purchased a new stake in Cirrus Logic during the 2nd quarter valued at about $93,000. Somerset Trust Co grew its stake in Cirrus Logic by 3.5% during the 2nd quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company's stock valued at $343,000 after purchasing an additional 110 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Cirrus Logic by 13.9% during the 2nd quarter. Kera Capital Partners Inc. now owns 3,583 shares of the semiconductor company's stock valued at $374,000 after purchasing an additional 436 shares during the last quarter. Voya Investment Management LLC grew its stake in Cirrus Logic by 49.7% during the 1st quarter. Voya Investment Management LLC now owns 42,468 shares of the semiconductor company's stock valued at $4,232,000 after purchasing an additional 14,105 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in Cirrus Logic by 21.1% during the 1st quarter. Inspire Investing LLC now owns 11,926 shares of the semiconductor company's stock valued at $1,188,000 after purchasing an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Scott Thomas sold 11,089 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the completion of the sale, the executive vice president directly owned 26,307 shares in the company, valued at approximately $3,196,037.43. The trade was a 29.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Denise Grode sold 2,202 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $116.87, for a total value of $257,347.74. Following the sale, the executive vice president owned 5,698 shares of the company's stock, valued at approximately $665,925.26. This trade represents a 27.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,453 shares of company stock worth $3,821,790. Corporate insiders own 1.16% of the company's stock.

Cirrus Logic Trading Up 6.0%

CRUS traded up $7.16 during trading on Monday, hitting $127.28. The company's stock had a trading volume of 847,218 shares, compared to its average volume of 548,689. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $128.18. The business's fifty day simple moving average is $110.48 and its 200 day simple moving average is $103.10. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 19.92 and a beta of 1.02.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Stifel Nicolaus boosted their price objective on Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has an average rating of "Moderate Buy" and an average target price 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.