Alliancebernstein L.P. Has $16.55 Million Holdings 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 first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 166,076 shares of the semiconductor company's stock after purchasing an additional 79,348 shares during the quarter. Alliancebernstein L.P. owned 0.31% of Cirrus Logic worth $16,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC raised its position in Cirrus Logic by 131.5% during the first quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company's stock valued at $103,456,000 after buying an additional 604,337 shares during the period. Ameriprise Financial Inc. increased its position in Cirrus Logic by 98.0% during the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock worth $111,380,000 after buying an additional 553,169 shares during the last quarter. Nuveen LLC acquired a new position in Cirrus Logic during the first quarter worth $49,364,000. Mackenzie Financial Corp increased its position in Cirrus Logic by 12.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after buying an additional 196,483 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Cirrus Logic by 64.4% during the 1st quarter. Panagora Asset Management Inc. now owns 479,998 shares of the semiconductor company's stock worth $47,834,000 after acquiring an additional 188,093 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. The trade was a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.16% of the company's stock.

Cirrus Logic Trading Down 0.2%

Shares of CRUS traded down $0.21 during trading hours on Monday, hitting $116.58. 362,371 shares of the stock traded hands, compared to its average volume of 629,139. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $129.94. The firm has a market capitalization of $5.98 billion, a PE ratio of 18.24 and a beta of 1.02. The business has a fifty day moving average of $108.66 and a 200-day moving average of $102.41.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.44. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The business had revenue of $407.27 million during the quarter, compared to analysts' expectations of $361.97 million. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

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.