Allianz Asset Management GmbH Has $85.40 Million Position in Cirrus Logic, Inc. $CRUS

Key Points

• Allianz Asset Management GmbH reduced its stake in Cirrus Logic by 6.7% during Q2, holding approximately 1.60% of the company with a total value of $85.4 million.
• Cirrus Logic reported $1.51 in earnings per share for its latest quarter, surpassing expectations and showing an 8.9% year-over-year revenue increase to $407.27 million.
• Institutional investors and hedge funds control 87.96% of Cirrus Logic's shares, indicating strong institutional interest in the stock.

Allianz Asset Management GmbH lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,143 shares of the semiconductor company's stock after selling 59,051 shares during the quarter. Allianz Asset Management GmbH owned about 1.60% of Cirrus Logic worth $85,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CRUS. Louisiana State Employees Retirement System raised its position in Cirrus Logic by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company's stock worth $1,564,000 after purchasing an additional 100 shares during the last quarter. Somerset Trust Co raised its position in Cirrus Logic by 3.5% during the 2nd quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company's stock worth $343,000 after purchasing an additional 110 shares during the last quarter. May Hill Capital LLC raised its position in Cirrus Logic by 5.4% during the 1st quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock worth $221,000 after purchasing an additional 113 shares during the last quarter. Farther Finance Advisors LLC raised its position in Cirrus Logic by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,806 shares of the semiconductor company's stock worth $293,000 after purchasing an additional 116 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Cirrus Logic by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 18,431 shares of the semiconductor company's stock worth $1,922,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Trading Up 0.5%

CRUS stock opened at $123.23 on Friday. The stock has a 50-day moving average price of $118.32 and a 200-day moving average price of $105.99. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $129.56. The firm has a market cap of $6.33 billion, a PE ratio of 19.28 and a beta of 1.09.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data 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. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm had revenue of $407.27 million during the quarter, compared to analyst estimates of $361.97 million. During the same period last year, the company posted $1.12 EPS. The business's quarterly revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cirrus Logic in a research report on Wednesday, October 8th. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus raised their target price on Cirrus Logic from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Insider Activity

In other news, EVP Denise Grode sold 2,202 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was 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 directly owned 5,698 shares in the company, valued at $665,925.26. This trade represents a 27.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey W. Baumgartner sold 9,162 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $1,099,440.00. Following the completion of the sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,680,120. This represents a 39.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,453 shares of company stock worth $3,821,790 in the last three months. Company insiders own 1.16% of the company's stock.

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.

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