Cirrus Logic, Inc. $CRUS Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Cirrus Logic, Inc. by 50.6%, now owning 91,042 shares valued at approximately $9.9 million as of the latest SEC filing.
• Despite the reduction from Allspring, other hedge funds like AQR Capital Management and Ameriprise Financial have increased their holdings significantly, indicating a mixed sentiment among institutional investors.
• Cirrus Logic reported a strong quarterly performance with an EPS of $1.51, surpassing expectations and indicating an 8.9% year-over-year revenue growth, along with a current market cap of $6.48 billion.

Allspring Global Investments Holdings LLC cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 50.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,042 shares of the semiconductor company's stock after selling 93,331 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Cirrus Logic worth $9,923,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRUS. AQR Capital Management LLC increased its position in shares of Cirrus Logic by 131.5% during the first quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company's stock worth $103,456,000 after purchasing an additional 604,337 shares in the last quarter. Ameriprise Financial Inc. increased its position 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 buying an additional 553,169 shares during the period. Nuveen LLC acquired a new position in Cirrus Logic during the first quarter worth approximately $49,364,000. Panagora Asset Management Inc. lifted its stake in Cirrus Logic by 64.4% in the first quarter. Panagora Asset Management Inc. now owns 479,998 shares of the semiconductor company's stock valued at $47,834,000 after buying an additional 188,093 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of 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 acquiring an additional 145,524 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $126.15 on Friday. The stock's 50 day moving average price is $118.77 and its 200 day moving average price is $106.22. The company has a market cap of $6.48 billion, a PE ratio of 19.74 and a beta of 1.09. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $129.56.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, beating 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 firm had revenue of $407.27 million during the quarter, compared to analysts' expectations of $361.97 million. During the same quarter last year, the business earned $1.12 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRUS shares. Wall Street Zen raised shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a report on Saturday. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cirrus Logic in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of "Moderate Buy" and an average target price of $125.00.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business's stock in a transaction dated 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 in the company, valued at $1,565,031.78. The trade was a 41.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Thomas sold 11,089 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the completion of the sale, the executive vice president owned 26,307 shares in the company, valued at $3,196,037.43. This represents a 29.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock valued at $3,821,790 in the last 90 days. 1.16% of the stock is currently owned by insiders.

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.

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