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

Cirrus Logic, Inc. (NASDAQ:CRUS) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,630,000 shares, an increase of 40.5% from the September 15th total of 1,160,000 shares. Based on an average daily volume of 541,100 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.1% of the shares of the company are short sold.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock worth $4,446,000 after acquiring an additional 5,645 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in Cirrus Logic by 741.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after acquiring an additional 24,454 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Cirrus Logic by 6.6% during the 1st quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company’s stock worth $64,505,000 after purchasing an additional 42,897 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Cirrus Logic by 61.6% during the first quarter. Lazard Asset Management LLC now owns 60,400 shares of the semiconductor company’s stock worth $5,590,000 after purchasing an additional 23,016 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded up $0.02 on Friday, hitting $119.71. The company’s stock had a trading volume of 294,235 shares, compared to its average volume of 482,122. The stock has a 50 day moving average of $130.43 and a 200-day moving average of $118.53. Cirrus Logic has a 12-month low of $65.02 and a 12-month high of $147.46. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 22.13 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same quarter in the prior year, the company earned $0.35 EPS. Cirrus Logic’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts expect that Cirrus Logic will post 5.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Susquehanna upped their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. KeyCorp lifted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus boosted their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Barclays downgraded Cirrus Logic from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $140.00 to $120.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.