Canada Pension Plan Investment Board Trims Holdings in Cirrus Logic, Inc. $CRUS

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Cirrus Logic, Inc. by 24.0% in the first quarter, selling 12,900 shares and holding about 40,900 shares worth $4,076,000.
• Analysts have given the stock an average rating of "Moderate Buy" with a consensus target price of $121.00, reflecting positive sentiment on its recent quarterly performance.
• The semiconductor company reported a quarterly EPS of $1.51, significantly beating estimates and achieving a revenue of $407.27 million, up 8.9% from the previous year.

Canada Pension Plan Investment Board cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 24.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,900 shares of the semiconductor company's stock after selling 12,900 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of Cirrus Logic worth $4,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ieq Capital LLC boosted its position in Cirrus Logic by 1,658.0% during the first quarter. Ieq Capital LLC now owns 40,100 shares of the semiconductor company's stock worth $3,996,000 after acquiring an additional 37,819 shares during the last quarter. Aristides Capital LLC purchased a new position in Cirrus Logic during the first quarter worth about $258,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Cirrus Logic by 5.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 455,697 shares of the semiconductor company's stock worth $45,412,000 after purchasing an additional 23,202 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Cirrus Logic during the first quarter worth about $3,035,000. Finally, Ameriprise Financial Inc. raised its stake in Cirrus Logic by 98.0% during the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock worth $111,380,000 after purchasing an additional 553,169 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total value of $1,117,800.00. Following the sale, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. The trade was a 41.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.16% of the company's stock.

Cirrus Logic Trading Down 0.6%

CRUS stock traded down $0.71 during trading on Tuesday, reaching $116.73. 117,920 shares of the stock were exchanged, compared to its average volume of 627,916. The business has a 50 day moving average price of $108.22 and a 200-day moving average price of $102.18. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $137.73. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.27 and a beta of 1.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.44. The business had revenue of $407.27 million for 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 business's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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.