Canada Pension Plan Investment Board Cuts Stake 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 lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 24.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,900 shares of the semiconductor company's stock after selling 12,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.08% of Cirrus Logic worth $4,076,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in Cirrus Logic by 98.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock valued at $111,380,000 after buying an additional 553,169 shares during the last quarter. Nuveen LLC bought a new position in shares of Cirrus Logic during the 1st quarter worth approximately $49,364,000. Deutsche Bank AG increased its stake in Cirrus Logic by 139.4% during the 4th quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock worth $58,427,000 after acquiring an additional 341,615 shares during the period. Mackenzie Financial Corp grew its position 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 acquiring an additional 196,483 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Cirrus Logic by 25,215.7% in the first quarter. GAMMA Investing LLC now owns 188,349 shares of the semiconductor company's stock valued at $18,771,000 after buying an additional 187,605 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Cirrus Logic Stock Up 0.8%

CRUS traded up $0.87 during trading on Monday, reaching $116.59. 212,827 shares of the company's stock were exchanged, compared to its average volume of 628,512. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $137.73. The company has a market capitalization of $5.98 billion, a P/E ratio of 18.25 and a beta of 1.02. The business has a 50 day moving average price of $107.96 and a 200 day moving average price of $102.12.

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

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. This represents a 41.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.16% of the stock is owned by insiders.

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.