Cirrus Logic, Inc. $CRUS Shares Bought by AQR Capital Management LLC

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 raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 131.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,063,813 shares of the semiconductor company's stock after purchasing an additional 604,337 shares during the quarter. AQR Capital Management LLC owned 2.00% of Cirrus Logic worth $103,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cirrus Logic by 0.4% in the first quarter. Vanguard Group Inc. now owns 6,420,646 shares of the semiconductor company's stock valued at $639,849,000 after purchasing an additional 24,614 shares during the period. LSV Asset Management raised its position in Cirrus Logic by 6.4% in the first quarter. LSV Asset Management now owns 2,402,284 shares of the semiconductor company's stock valued at $239,400,000 after purchasing an additional 145,524 shares during the period. Mackenzie Financial Corp raised its position in Cirrus Logic by 12.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock valued at $182,748,000 after purchasing an additional 196,483 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Cirrus Logic by 0.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,590,744 shares of the semiconductor company's stock valued at $158,518,000 after purchasing an additional 4,403 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Cirrus Logic by 98.0% in the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock valued at $111,380,000 after purchasing an additional 553,169 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Trading Down 5.5%

Shares of CRUS stock traded down $6.37 on Wednesday, reaching $110.06. 145,963 shares of the stock were exchanged, compared to its average volume of 627,874. The business's 50 day moving average price is $108.37 and its 200 day moving average price is $102.28. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 17.23 and a beta of 1.02. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $137.73.

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

Wall Street Analyst Weigh In

Separately, 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 analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

Insider Activity at Cirrus Logic

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

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.