Quantbot Technologies LP Invests $1.49 Million in Cirrus Logic, Inc. $CRUS

Key Points

• Quantbot Technologies LP has purchased 14,978 shares of Cirrus Logic, Inc. for approximately $1.49 million, marking a new stake in the semiconductor company in the first quarter.
• Cirrus Logic recently reported $1.51 EPS for the quarter, exceeding estimates and showcasing a revenue increase of 8.9% year-over-year.
• The company has initiated a $500 million stock repurchase plan, indicating leadership believes its shares may be undervalued.

Quantbot Technologies LP bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,978 shares of the semiconductor company's stock, valued at approximately $1,493,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its stake in Cirrus Logic by 4,576.4% in the first quarter. Brooklyn Investment Group now owns 2,572 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 2,517 shares during the period. Algert Global LLC lifted its position in shares of Cirrus Logic by 3.7% in the first quarter. Algert Global LLC now owns 64,261 shares of the semiconductor company's stock valued at $6,404,000 after acquiring an additional 2,310 shares in the last quarter. Raymond James Financial Inc. raised its position in Cirrus Logic by 149.7% in the first quarter. Raymond James Financial Inc. now owns 131,034 shares of the semiconductor company's stock valued at $13,058,000 after purchasing an additional 78,565 shares during the period. Cresset Asset Management LLC grew its stake in shares of Cirrus Logic by 7.7% in the first quarter. Cresset Asset Management LLC now owns 12,207 shares of the semiconductor company's stock valued at $1,216,000 after buying an additional 869 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Cirrus Logic by 7.1% during the 1st quarter. American Century Companies Inc. now owns 86,701 shares of the semiconductor company's stock worth $8,640,000 after purchasing an additional 5,732 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cirrus Logic news, EVP Carl Jackson Alberty sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president directly owned 41,645 shares in the company, valued at $4,164,500. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,400,100. This trade represents a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by insiders.

Cirrus Logic Trading Down 1.2%

NASDAQ CRUS traded down $1.37 during trading on Monday, reaching $116.01. The company's stock had a trading volume of 276,509 shares, compared to its average volume of 619,360. The firm has a 50 day moving average price of $106.25 and a 200 day moving average price of $101.67. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.15 and a beta of 0.92. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $407.27 million during the quarter, compared to analysts' expectations of $361.97 million. During the same period in the prior year, the company earned $1.12 EPS. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic declared that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CRUS has been the topic of several recent analyst reports. Barclays boosted their target price on Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus set a $120.00 price target on Cirrus Logic in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

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.