Cirrus Logic (NASDAQ:CRUS) EVP Sells $1,117,800.00 in Stock

Key Points

• Jeffrey Baumgartner, EVP of Cirrus Logic, sold 10,000 shares at an average price of $111.78, reducing his ownership by 41.66% to 14,001 shares.
• Cirrus Logic reported Q3 earnings of $1.51 per share, exceeding estimates by $0.44, with a revenue of $407.27 million, up 8.9% year-over-year.
• The company has initiated a stock buyback plan authorizing the repurchase of up to $500 million in shares, indicating a belief that its stock is undervalued.

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cirrus Logic Trading Up 0.4%

Shares of Cirrus Logic stock traded up $0.46 on Friday, hitting $115.72. The stock had a trading volume of 383,706 shares, compared to its average volume of 468,513. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 18.11 and a beta of 1.02. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $138.21. The company's 50 day moving average price is $107.96 and its 200 day moving average price is $102.12.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results 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 return on equity of 18.38% and a net margin of 18.15%.The firm had revenue of $407.27 million for the quarter, compared to the consensus estimate of $361.97 million. During the same quarter last year, the business posted $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. Analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen cut 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 one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC raised its position in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company's stock worth $598,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Cirrus Logic by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company's stock worth $1,564,000 after acquiring an additional 100 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Cirrus Logic by 3.3% during the second quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company's stock worth $354,000 after acquiring an additional 107 shares during the period. Somerset Trust Co raised its holdings in Cirrus Logic by 3.5% during the second quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company's stock worth $343,000 after purchasing an additional 110 shares in the last quarter. Finally, May Hill Capital LLC lifted its position in Cirrus Logic by 5.4% in the first quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 113 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

About Cirrus Logic

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.