Empowered Funds LLC Grows Stock Holdings in Cirrus Logic, Inc. $CRUS

Key Points

• Empowered Funds LLC significantly increased its position in Cirrus Logic, Inc. by 2,953.7% in the first quarter, acquiring 89,083 additional shares to reach a total of 92,099 shares worth $9.18 million.
• Several institutional investors, including Man Group plc and UMB Bank, also boosted their stakes in Cirrus Logic, leading to institutional ownership reaching 87.96% of the company's shares.
• Cirrus Logic reported earnings of $1.51 EPS for the recent quarter, exceeding analysts' expectations, contributing to a revenue increase of 8.9% year-over-year.

Empowered Funds LLC boosted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 2,953.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,099 shares of the semiconductor company's stock after acquiring an additional 89,083 shares during the quarter. Empowered Funds LLC owned 0.17% of Cirrus Logic worth $9,178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Cirrus Logic by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 6,420,646 shares of the semiconductor company's stock valued at $639,849,000 after buying an additional 24,614 shares during the last quarter. LSV Asset Management raised its stake 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 valued at $239,400,000 after buying an additional 145,524 shares during the last quarter. Mackenzie Financial Corp raised its stake 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 valued at $182,748,000 after buying an additional 196,483 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Cirrus Logic by 0.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,590,744 shares of the semiconductor company's stock worth $158,518,000 after purchasing an additional 4,403 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Cirrus Logic by 98.0% in the 1st 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 in the last quarter. 87.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRUS shares. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus increased their price target on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has an average rating of "Moderate Buy" and an average target price of $123.00.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was 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 in the company, valued at approximately $1,565,031.78. This trade represents a 41.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.16% of the company's stock.

Cirrus Logic Trading Up 0.2%

Shares of Cirrus Logic stock traded up $0.29 during trading hours on Monday, reaching $117.08. The stock had a trading volume of 86,731 shares, compared to its average volume of 627,489. The firm has a market capitalization of $6.01 billion, a PE ratio of 18.34 and a beta of 1.02. The stock's 50 day moving average is $108.66 and its 200 day moving average is $102.41. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $129.94.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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 analysts' expectations of $361.97 million. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. Cirrus Logic's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share 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.