Algert Global LLC Raises Stock Position in Cirrus Logic, Inc. $CRUS

Key Points

• Algert Global LLC increased its holdings in Cirrus Logic, Inc. by 3.7%, owning a total of 64,261 shares valued at approximately $6.4 million as of the end of the most recent quarter.
• Wall Street analysts have set a consensus price target of $121.00 for Cirrus Logic, with recent ratings reflecting a mix of upgrades and downgrades from firms like Barclays and Stifel Nicolaus.
• Cirrus Logic declared a $500 million stock repurchase program, signaling confidence in the company's valuation as it allows the buyback of up to 9.6% of its shares.

Algert Global LLC grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,261 shares of the semiconductor company's stock after acquiring an additional 2,310 shares during the period. Algert Global LLC owned 0.12% of Cirrus Logic worth $6,404,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Cirrus Logic in the 1st quarter worth about $30,000. N.E.W. Advisory Services LLC bought a new position in Cirrus Logic in the 1st quarter worth about $50,000. UMB Bank n.a. grew its stake in Cirrus Logic by 124.5% in the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 290 shares in the last quarter. Transce3nd LLC bought a new position in Cirrus Logic in the 4th quarter worth about $63,000. Finally, Menard Financial Group LLC purchased a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $67,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded up $3.41 during midday trading on Friday, hitting $117.38. The company's stock had a trading volume of 385,234 shares, compared to its average volume of 622,951. The business's 50 day simple moving average is $106.01 and its 200 day simple moving average is $101.68. The company has a market cap of $6.03 billion, a P/E ratio of 18.37 and a beta of 0.92. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.44. The firm had revenue of $407.27 million for the quarter, compared to the consensus estimate of $361.97 million. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. 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, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic declared that its Board of Directors has approved a share repurchase program on Tuesday, May 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Carl Jackson Alberty sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the executive vice president directly owned 41,645 shares of the company's stock, valued at approximately $4,164,500. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,400,100. This represents a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRUS. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Finally, Barclays increased their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and an average target price of $121.00.

Cirrus Logic 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.