KLP Kapitalforvaltning AS Raises Position in Cirrus Logic, Inc. $CRUS

KLP Kapitalforvaltning AS grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,900 shares of the semiconductor company’s stock after acquiring an additional 700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Cirrus Logic were worth $1,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RMG Wealth Management LLC purchased a new stake in shares of Cirrus Logic in the second quarter valued at about $30,000. Ameritas Advisory Services LLC purchased a new stake in shares of Cirrus Logic in the second quarter valued at about $31,000. Banque Cantonale Vaudoise purchased a new stake in shares of Cirrus Logic in the first quarter valued at about $30,000. Geneos Wealth Management Inc. boosted its holdings in shares of Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Cirrus Logic in the first quarter valued at about $50,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 7.3%

Shares of CRUS opened at $115.68 on Monday. The stock has a market cap of $5.94 billion, a P/E ratio of 18.10 and a beta of 1.09. The company has a 50-day moving average of $116.74 and a two-hundred day moving average of $105.45. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $129.56.

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, topping analysts’ consensus estimates of $1.07 by $0.44. The company had revenue of $407.27 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRUS has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cirrus Logic in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 11th. Finally, Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insiders Place Their Bets

In other news, EVP Denise Grode sold 2,202 shares of the business’s stock in a transaction that occurred 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 owned 5,698 shares of the company’s stock, valued at $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business’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 approximately $1,565,031.78. This represents a 41.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,453 shares of company stock worth $3,821,790. Insiders own 1.16% of the company’s stock.

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.