Cirrus Logic, Inc. (NASDAQ:CRUS) Sees Significant Decline in Short Interest

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 target of a large drop in short interest in August. As of August 15th, there was short interest totaling 1,240,000 shares, a drop of 32.6% from the July 31st total of 1,840,000 shares. Based on an average daily volume of 538,100 shares, the short-interest ratio is currently 2.3 days. Approximately 2.4% of the shares of the stock are short sold. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 538,100 shares, the short-interest ratio is currently 2.3 days.

Cirrus Logic Trading Up 1.4%

Shares of CRUS traded up $1.61 during mid-day trading on Friday, reaching $116.79. The company had a trading volume of 673,421 shares, compared to its average volume of 630,555. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 18.28 and a beta of 1.02. The firm has a fifty day simple moving average of $108.53 and a 200-day simple moving average of $102.40. Cirrus Logic has a fifty-two week low of $75.83 and a fifty-two week high of $135.47.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.44. The business 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 business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, equities analysts predict that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 14,001 shares of the company's stock, valued at $1,565,031.78. This trade represents a 41.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new position in shares of Cirrus Logic during the 1st quarter valued at $251,000. Man Group plc lifted its holdings in shares of Cirrus Logic by 4.7% during the 4th quarter. Man Group plc now owns 110,007 shares of the semiconductor company's stock valued at $10,954,000 after acquiring an additional 4,976 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 290 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of Cirrus Logic during the 1st quarter valued at $360,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cirrus Logic by 262.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,664 shares of the semiconductor company's stock valued at $1,561,000 after acquiring an additional 11,346 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRUS. Stifel Nicolaus raised 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. 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.00.

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.