Cirrus Logic (NASDAQ:CRUS) EVP Scott Thomas Sells 734 Shares of Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Scott Thomas sold 734 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $131.25, for a total transaction of $96,337.50. Following the sale, the executive vice president owned 26,307 shares of the company’s stock, valued at $3,452,793.75. This trade represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Scott Thomas also recently made the following trade(s):

• On Thursday, September 18th, Scott Thomas sold 11,089 shares of Cirrus Logic stock. The shares were sold at an average price of $121.49, for a total transaction of $1,347,202.61.

Cirrus Logic Trading Down 1.2%

Shares of NASDAQ CRUS opened at $128.92 on Thursday. The firm has a 50 day moving average of $120.11 and a 200 day moving average of $107.00. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 20.18 and a beta of 1.09. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $131.87.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.44. The company had revenue of $407.27 million during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Cirrus Logic

Several hedge funds have recently modified their holdings of CRUS. Norges Bank purchased a new position in shares of Cirrus Logic in the second quarter worth $68,744,000. AQR Capital Management LLC lifted its holdings in shares of Cirrus Logic by 131.5% in the first quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company’s stock worth $103,456,000 after buying an additional 604,337 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Cirrus Logic by 98.0% in the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company’s stock worth $111,380,000 after buying an additional 553,169 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cirrus Logic in the first quarter worth $49,364,000. Finally, DNB Asset Management AS lifted its holdings in shares of Cirrus Logic by 124.1% in the second quarter. DNB Asset Management AS now owns 504,474 shares of the semiconductor company’s stock worth $52,594,000 after buying an additional 279,398 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. Susquehanna boosted their target price on shares of Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wall Street Zen upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cirrus Logic in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.