ProShare Advisors LLC Reduces Stake in Cirrus Logic, Inc. $CRUS

ProShare Advisors LLC reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.5% in the second quarter, Holdings Channel reports. The fund owned 8,950 shares of the semiconductor company’s stock after selling 517 shares during the quarter. ProShare Advisors LLC’s holdings in Cirrus Logic were worth $933,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Cirrus Logic by 10.7% in the first quarter. Envestnet Asset Management Inc. now owns 122,333 shares of the semiconductor company’s stock valued at $12,191,000 after purchasing an additional 11,844 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Cirrus Logic by 435.1% in the first quarter. Cerity Partners LLC now owns 16,883 shares of the semiconductor company’s stock valued at $1,682,000 after buying an additional 13,728 shares during the period. CWM LLC lifted its position in shares of Cirrus Logic by 424.2% during the 1st quarter. CWM LLC now owns 16,082 shares of the semiconductor company’s stock valued at $1,603,000 after buying an additional 13,014 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Cirrus Logic by 23.2% during the 1st quarter. Edgestream Partners L.P. now owns 8,953 shares of the semiconductor company’s stock worth $892,000 after acquiring an additional 1,686 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Cirrus Logic by 21.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,357 shares of the semiconductor company’s stock worth $5,816,000 after acquiring an additional 10,297 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Williams Trading set a $150.00 price objective on shares of Cirrus Logic in a report on Wednesday, November 5th. Benchmark upped their price target on shares of Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Thursday. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Susquehanna increased their target price on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

Insider Buying and Selling

In related news, EVP Denise Grode sold 2,202 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $116.87, for a total value of $257,347.74. Following the completion of the transaction, the executive vice president directly owned 5,698 shares in the company, valued at approximately $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Thomas sold 11,089 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $121.49, for a total value of $1,347,202.61. Following the transaction, the executive vice president directly owned 26,307 shares in the company, valued at approximately $3,196,037.43. This represents a 29.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,187 shares of company stock worth $3,918,128 over the last ninety days. 1.16% of the stock is owned by corporate insiders.

Cirrus Logic Trading Down 0.2%

Cirrus Logic stock opened at $119.31 on Monday. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $136.92. The firm has a market capitalization of $6.09 billion, a PE ratio of 18.67 and a beta of 1.11. The firm’s 50 day simple moving average is $124.09 and its 200 day simple moving average is $112.02.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.32 by $0.51. The firm had revenue of $560.96 million during the quarter, compared to the consensus estimate of $540.45 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 3.5% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. Cirrus Logic has set its Q3 2026 guidance at EPS. Research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

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.