Short Interest in Cirrus Logic, Inc. (NASDAQ:CRUS) Decreases By 32.6%

Key Points

• Cirrus Logic, Inc. (NASDAQ:CRUS) saw a 32.6% decrease in short interest in August, down to 1,240,000 shares from 1,840,000.
• Insider trading was noted as EVP Jeffrey W. Baumgartner sold 10,000 shares for approximately $1.12 million, reducing his ownership by 41.66%.
• Following a strong Q3 earnings report, analysts have rated the stock as a "Moderate Buy", with a new average target price set at $121.00.

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totaling 1,240,000 shares, adeclineof32.6% from the July 31st total of 1,840,000 shares. Currently,2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 538,100 shares, the short-interest ratio is currently 2.3 days. Based on an average daily trading volume, of 538,100 shares, the short-interest ratio is currently 2.3 days. Currently,2.4% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. The trade was a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in Cirrus Logic by 137.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,994 shares of the semiconductor company's stock valued at $1,039,000 after purchasing an additional 5,783 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Cirrus Logic by 1,042.9% in the 2nd quarter. Squarepoint Ops LLC now owns 34,103 shares of the semiconductor company's stock valued at $3,555,000 after purchasing an additional 31,119 shares in the last quarter. Cim Investment Management Inc. lifted its holdings in shares of Cirrus Logic by 100.8% during the 2nd quarter. Cim Investment Management Inc. now owns 5,676 shares of the semiconductor company's stock worth $578,000 after acquiring an additional 2,849 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of Cirrus Logic during the 2nd quarter worth about $2,025,000. Finally, State of Wyoming purchased a new position in shares of Cirrus Logic during the 2nd quarter worth about $64,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.00.

Cirrus Logic Price Performance

NASDAQ:CRUS traded up $0.46 on Friday, reaching $115.72. The stock had a trading volume of 383,706 shares, compared to its average volume of 474,785. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 18.11 and a beta of 1.02. The firm's fifty day moving average is $107.96 and its two-hundred day moving average is $102.18. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $138.21.

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

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.

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