United Services Automobile Association Makes New Investment in Cirrus Logic, Inc. $CRUS

Key Points

• United Services Automobile Association acquired 3,599 shares of Cirrus Logic, Inc. (NASDAQ:CRUS) for approximately $358,000 in the first quarter.
• Institutional investors collectively own 87.96% of Cirrus Logic's stock, with several firms increasing their holdings significantly in the last quarter.
• Cirrus Logic reported strong financial results, with a quarterly earnings EPS of $1.51, exceeding estimates and showing an increase from the prior year.

United Services Automobile Association acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,599 shares of the semiconductor company's stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRUS. Cetera Investment Advisers grew its position in Cirrus Logic by 30.3% during the 4th quarter. Cetera Investment Advisers now owns 2,767 shares of the semiconductor company's stock worth $276,000 after acquiring an additional 643 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Cirrus Logic by 2.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 30,024 shares of the semiconductor company's stock valued at $2,990,000 after buying an additional 760 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cirrus Logic by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after buying an additional 155 shares during the last quarter. Millennium Management LLC grew its position in shares of Cirrus Logic by 100.6% in the 4th quarter. Millennium Management LLC now owns 278,916 shares of the semiconductor company's stock valued at $27,774,000 after buying an additional 139,876 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $702,000. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded down $0.21 during midday trading on Monday, reaching $116.58. The company's stock had a trading volume of 362,371 shares, compared to its average volume of 629,139. The firm has a 50 day moving average price of $108.66 and a two-hundred day moving average price of $102.41. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $129.94. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 18.24 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.44. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The business had revenue of $407.27 million for the quarter, compared to the consensus estimate of $361.97 million. During the same period in the prior year, the business earned $1.12 EPS. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus upped their price target on Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the company's 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 transaction, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. This represents a 41.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.16% of the company's stock.

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.