Alliancebernstein L.P. Has $16.55 Million Stake in Cirrus Logic, Inc. $CRUS

Key Points

• Alliancebernstein L.P. increased its stake in Cirrus Logic by 91.5%, acquiring a total of 166,076 shares valued at approximately $16.55 million.
• Cirrus Logic reported earnings of $1.51 per share for the latest quarter, exceeding expectations by $0.44, and had revenue of $407.27 million, up 8.9% year-over-year.
• Wall Street analysts have rated Cirrus Logic as a moderate buy with a target price of $121.00, reflecting a recent downgrade from a "strong-buy" rating.

Alliancebernstein L.P. lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,076 shares of the semiconductor company's stock after buying an additional 79,348 shares during the period. Alliancebernstein L.P. owned approximately 0.31% of Cirrus Logic worth $16,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Cirrus Logic in the first quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Cirrus Logic in the first quarter valued at approximately $50,000. UMB Bank n.a. boosted its stake in shares of Cirrus Logic by 124.5% in the first quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after buying an additional 290 shares during the period. Menard Financial Group LLC bought a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cirrus Logic by 17.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after buying an additional 155 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus upped their target price on Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the completion of the sale, the executive vice president directly owned 14,001 shares in the company, valued at $1,565,031.78. This represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Denise Grode sold 2,202 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. 1.16% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Up 0.4%

Shares of NASDAQ:CRUS traded up $0.43 during trading on Wednesday, hitting $119.17. 380,483 shares of the company were exchanged, compared to its average volume of 474,355. The business's 50 day moving average is $109.38 and its 200-day moving average is $102.72. The company has a market capitalization of $6.12 billion, a P/E ratio of 18.65 and a beta of 1.02. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $127.17.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.44. The company had revenue of $407.27 million during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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 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.