Caisse DE Depot ET Placement DU Quebec Buys 23,202 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Cirrus Logic by 5.4%, owning 455,697 shares valued at approximately $45.4 million as of the recent reporting period.
• Cirrus Logic reported $1.51 earnings per share, exceeding consensus estimates by $0.44, with revenue of $407.27 million for the quarter.
• The company initiated a $500 million stock repurchase plan, indicating that its leadership believes the stock is currently undervalued.

Caisse DE Depot ET Placement DU Quebec raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 455,697 shares of the semiconductor company's stock after purchasing an additional 23,202 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.86% of Cirrus Logic worth $45,412,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CRUS. Vanguard Group Inc. lifted its holdings 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 worth $639,849,000 after buying an additional 24,614 shares during the period. LSV Asset Management increased its position in Cirrus Logic by 6.4% in 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 in the last quarter. Mackenzie Financial Corp increased its position in Cirrus Logic by 12.0% in 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 in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cirrus Logic in the 4th quarter valued at about $170,796,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in 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 valued at $158,518,000 after buying an additional 4,403 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of analyst reports. Wall Street Zen downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Barclays lifted their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $121.00.

Insider Activity

In other Cirrus Logic news, EVP Carl Jackson Alberty sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president owned 41,645 shares of the company's stock, valued at $4,164,500. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president directly owned 14,001 shares in the company, valued at $1,400,100. This trade represents a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.16% of the company's stock.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS traded down $1.17 during trading on Friday, hitting $114.19. 356,305 shares of the company were exchanged, compared to its average volume of 637,158. The company has a market cap of $5.86 billion, a PE ratio of 17.87 and a beta of 0.92. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The stock has a 50 day moving average of $107.00 and a 200 day moving average of $101.96.

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 for the quarter, topping the consensus estimate of $1.07 by $0.44. The firm had revenue of $407.27 million for 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%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. Sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic declared that its board has approved a stock buyback plan on Tuesday, May 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

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.