United Services Automobile Association Takes $358,000 Position 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 stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,599 shares of the semiconductor company's stock, valued at approximately $358,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Cirrus Logic by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 6,420,646 shares of the semiconductor company's stock valued at $639,849,000 after buying an additional 24,614 shares in the last quarter. LSV Asset Management grew its position in Cirrus Logic by 6.4% during the first quarter. LSV Asset Management now owns 2,402,284 shares of the semiconductor company's stock worth $239,400,000 after buying an additional 145,524 shares in the last quarter. Mackenzie Financial Corp grew its position in Cirrus Logic by 12.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after buying an additional 196,483 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Cirrus Logic by 0.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,590,744 shares of the semiconductor company's stock worth $158,518,000 after buying an additional 4,403 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Cirrus Logic by 98.0% during the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock worth $111,380,000 after purchasing an additional 553,169 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the completion of the transaction, the executive vice president owned 14,001 shares in the company, valued at $1,565,031.78. The trade was 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 through this link. 1.16% of the stock is owned by corporate insiders.

Cirrus Logic Stock Up 0.1%

Cirrus Logic stock traded up $0.16 during trading hours on Wednesday, hitting $118.90. The stock had a trading volume of 55,234 shares, compared to its average volume of 624,880. The stock has a market capitalization of $6.10 billion, a P/E ratio of 18.63 and a beta of 1.02. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $127.17. The stock's 50-day moving average price is $109.09 and its 200-day moving average price is $102.61.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Four research 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 stock has an average rating of "Moderate Buy" and an average target price of $123.00.

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.