AQR Capital Management LLC Purchases 604,337 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• AQR Capital Management increased its position in Cirrus Logic, Inc. by 131.5% in the first quarter, owning over 1 million shares valued at $103.46 million.
• Institutional investors hold 87.96% of Cirrus Logic's stock, with several firms significantly increasing their stakes in the first quarter.
• Cirrus Logic reported a $1.51 EPS for the last quarter, beating estimates and showing an 8.9% increase in revenue compared to the previous year.

AQR Capital Management LLC boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 131.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,063,813 shares of the semiconductor company's stock after acquiring an additional 604,337 shares during the period. AQR Capital Management LLC owned 2.00% of Cirrus Logic worth $103,456,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. May Hill Capital LLC increased its position in Cirrus Logic by 5.4% in the first quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock worth $221,000 after buying an additional 113 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in Cirrus Logic by 3.7% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company's stock worth $343,000 after buying an additional 124 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Cirrus Logic by 4.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,769 shares of the semiconductor company's stock worth $376,000 after buying an additional 151 shares during the last quarter. Allworth Financial LP increased its position in Cirrus Logic by 2.5% in the first quarter. Allworth Financial LP now owns 6,246 shares of the semiconductor company's stock worth $577,000 after buying an additional 154 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 worth $105,000 after buying an additional 155 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Down 0.9%

NASDAQ:CRUS traded down $1.01 during trading hours on Tuesday, hitting $116.42. 585,975 shares of the company's stock traded hands, compared to its average volume of 630,687. The firm has a market cap of $5.98 billion, a P/E ratio of 18.22 and a beta of 1.02. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $137.73. The business's fifty day simple moving average is $108.22 and its two-hundred day simple moving average is $102.18.

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 (EPS) for the quarter, beating the consensus estimate 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 last year, the company earned $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the completion of the sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. This trade represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

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.