Cirrus Logic, Inc. $CRUS Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Cirrus Logic, Inc. by 95.9%, selling 562,424 shares and leaving it with 24,309 shares valued at approximately $2.4 million at the end of the last quarter.
• Cirrus Logic reported strong quarterly earnings, with $1.51 earnings per share, outperforming analysts' expectations of $1.07, alongside a revenue of $407.27 million for the quarter.
• The company has announced a $500 million stock repurchase program, indicating management's belief that the shares are undervalued, allowing for potential repurchase of up to 9.6% of its stock.

Deutsche Bank AG lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 95.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,309 shares of the semiconductor company's stock after selling 562,424 shares during the quarter. Deutsche Bank AG's holdings in Cirrus Logic were worth $2,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Cirrus Logic in the fourth quarter valued at $5,225,000. Barclays PLC lifted its stake in Cirrus Logic by 0.9% in the fourth quarter. Barclays PLC now owns 99,414 shares of the semiconductor company's stock valued at $9,899,000 after buying an additional 932 shares during the last quarter. Mariner LLC lifted its stake in Cirrus Logic by 32.0% in the fourth quarter. Mariner LLC now owns 6,648 shares of the semiconductor company's stock valued at $662,000 after buying an additional 1,610 shares during the last quarter. XTX Topco Ltd bought a new stake in Cirrus Logic in the fourth quarter valued at $353,000. Finally, NewEdge Advisors LLC lifted its stake in Cirrus Logic by 107.2% in the fourth quarter. NewEdge Advisors LLC now owns 3,479 shares of the semiconductor company's stock valued at $346,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Stock Down 0.3%

Shares of NASDAQ CRUS opened at $112.82 on Thursday. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The firm's 50-day simple moving average is $105.46 and its 200 day simple moving average is $101.47. The stock has a market cap of $5.79 billion, a P/E ratio of 17.66 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $361.97 million. During the same period in the previous year, the business earned $1.12 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have issued reports on CRUS. Stifel Nicolaus set a $120.00 target price on Cirrus Logic in a research note on Wednesday, May 7th. Wall Street Zen cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Finally, Barclays raised their target price on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and an average target price of $121.00.

About Cirrus Logic

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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