Cirrus Logic, Inc. (NASDAQ:CRUS) Short Interest Update

Cirrus Logic, Inc. (NASDAQ:CRUS) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 785,800 shares, a growth of 9.4% from the March 31st total of 718,100 shares. Based on an average daily volume of 434,600 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.5% of the company’s shares are sold short.

Insider Buying and Selling

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRUS. CWM LLC increased its position in Cirrus Logic by 17.1% during the third quarter. CWM LLC now owns 2,084 shares of the semiconductor company’s stock worth $154,000 after buying an additional 305 shares during the period. AE Wealth Management LLC increased its position in Cirrus Logic by 55.8% during the third quarter. AE Wealth Management LLC now owns 3,895 shares of the semiconductor company’s stock worth $288,000 after buying an additional 1,395 shares during the period. Simplicity Solutions LLC acquired a new position in Cirrus Logic during the third quarter worth approximately $567,000. Xponance Inc. increased its position in Cirrus Logic by 10.4% during the third quarter. Xponance Inc. now owns 7,407 shares of the semiconductor company’s stock worth $548,000 after buying an additional 696 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cirrus Logic by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,511 shares of the semiconductor company’s stock worth $777,000 after buying an additional 1,527 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the subject of several recent research reports. Susquehanna lifted their price objective on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. TD Cowen lifted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Barclays lifted their price objective on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic presently has an average rating of “Buy” and a consensus price target of $96.43.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $84.00 on Thursday. Cirrus Logic has a fifty-two week low of $65.02 and a fifty-two week high of $95.87. The firm has a market capitalization of $4.53 billion, a PE ratio of 26.67 and a beta of 1.00. The stock’s 50-day simple moving average is $89.98 and its 200-day simple moving average is $82.53.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.83. The business had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, sell-side analysts forecast that Cirrus Logic will post 4.79 earnings per share for the current fiscal 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 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 digital signal processing; boosted amplifiers; 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.