Cirrus Logic, Inc. $CRUS Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Cirrus Logic, Inc. by 7.1% in the first quarter, now owning approximately $8.64 million worth of shares.
• Insider selling activity was noted as two executive vice presidents sold a combined total of $1.2 million in shares, indicating potential concerns about stock valuations.
• Cirrus Logic reported better-than-expected quarterly earnings and plans to initiate a $500 million stock buyback, signaling confidence in the company’s value.

American Century Companies Inc. grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,701 shares of the semiconductor company's stock after buying an additional 5,732 shares during the quarter. American Century Companies Inc. owned 0.16% of Cirrus Logic worth $8,640,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in Cirrus Logic during the 1st quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in Cirrus Logic during the 1st quarter worth $50,000. UMB Bank n.a. raised its position in Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after buying an additional 290 shares during the last quarter. Menard Financial Group LLC purchased a new position in Cirrus Logic during the 4th quarter worth $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $1,000,000.00. Following the sale, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,400,100. This represents a 41.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 41,645 shares in the company, valued at approximately $4,164,500. The trade was a 4.58% 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRUS shares. Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research note on Wednesday, May 7th. Finally, Barclays upped their price target 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $1.17 during trading hours on Monday, reaching $114.19. The company's stock had a trading volume of 356,305 shares, compared to its average volume of 652,107. The stock has a market cap of $5.86 billion, a PE ratio of 17.87 and a beta of 1.02. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company's 50-day moving average is $107.36 and its two-hundred day moving average is $102.02.

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

Cirrus Logic announced that its board has initiated a stock buyback 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 often a sign that the company's board of directors believes its shares are undervalued.

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.