Ameriprise Financial Inc. Has $111.38 Million Position in Cirrus Logic, Inc. $CRUS

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Cirrus Logic, purchasing an additional 553,169 shares, totaling a 98% increase to 1,117,526 shares, valued at approximately $111.38 million.
• Cirrus Logic reported a strong quarterly performance with earnings per share of $1.51, exceeding estimates, and announced a $500 million share buyback program signaling confidence in its stock valuation.
• Analysts have mixed views on Cirrus Logic, with ratings ranging from "strong-buy" to "hold," and a consensus target price of $121.00 reflecting a moderate buy sentiment among analysts.

Ameriprise Financial Inc. increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 98.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,117,526 shares of the semiconductor company's stock after purchasing an additional 553,169 shares during the quarter. Ameriprise Financial Inc. owned 2.10% of Cirrus Logic worth $111,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CRUS. Vanguard Group Inc. increased its position in shares of Cirrus Logic by 0.4% during the first quarter. Vanguard Group Inc. now owns 6,420,646 shares of the semiconductor company's stock worth $639,849,000 after acquiring an additional 24,614 shares during the last quarter. LSV Asset Management increased its holdings in Cirrus Logic by 6.4% during the 1st quarter. LSV Asset Management now owns 2,402,284 shares of the semiconductor company's stock worth $239,400,000 after purchasing an additional 145,524 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Cirrus Logic by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after purchasing an additional 196,483 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at approximately $170,796,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Cirrus Logic by 0.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,590,744 shares of the semiconductor company's stock valued at $158,518,000 after buying an additional 4,403 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of research analyst reports. Barclays lifted 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. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Price Performance

CRUS stock traded down $1.18 on Friday, reaching $114.18. The company's stock had a trading volume of 153,111 shares, compared to its average volume of 635,889. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $147.46. The company has a market capitalization of $5.86 billion, a P/E ratio of 17.88 and a beta of 0.92. The firm has a fifty day moving average of $107.00 and a two-hundred day moving average of $101.96.

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 analysts' consensus estimates of $1.07 by $0.44. The company had revenue of $407.27 million during the quarter, compared to analyst estimates of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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

Insider Activity at Cirrus Logic

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

About Cirrus Logic

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.