Cirrus Logic (NASDAQ:CRUS) Upgraded at Wall Street Zen

Key Points

• Cirrus Logic has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the company's performance.
• The company reported strong quarterly earnings with $1.51 earnings per share, surpassing estimates and reflecting an 8.9% revenue increase year-over-year.
• Hedge funds have significantly increased their positions in Cirrus Logic, with institutional investors now holding 87.96% of the stock, signaling positive market sentiment.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

Several other analysts have also weighed in on CRUS. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cirrus Logic in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price objective on Cirrus Logic from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $125.00.

Cirrus Logic Stock Up 2.4%

NASDAQ:CRUS opened at $126.15 on Friday. The stock's 50-day simple moving average is $118.77 and its 200 day simple moving average is $106.17. The firm has a market capitalization of $6.48 billion, a PE ratio of 19.74 and a beta of 1.09. Cirrus Logic has a twelve month low of $75.83 and a twelve month high of $129.56.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.44. The business had revenue of $407.27 million for the quarter, compared to analyst estimates of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.Cirrus Logic's revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, analysts anticipate that Cirrus Logic will post 5.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Scott Thomas sold 11,089 shares of Cirrus Logic stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the sale, the executive vice president directly owned 26,307 shares of the company's stock, valued at approximately $3,196,037.43. This trade represents a 29.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Denise Grode sold 2,202 shares of Cirrus Logic stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $116.87, for a total value of $257,347.74. Following the sale, the executive vice president directly owned 5,698 shares in the company, valued at $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,453 shares of company stock valued at $3,821,790. 1.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds have recently made changes to their positions in CRUS. Hantz Financial Services Inc. lifted its stake in shares of Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 249 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Cirrus Logic in the first quarter worth approximately $30,000. RMG Wealth Management LLC acquired a new position in shares of Cirrus Logic in the second quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Cirrus Logic in the second quarter worth approximately $31,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic in the second quarter worth approximately $39,000. 87.96% of the stock is currently owned by institutional investors.

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.

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