Earnest Partners LLC Sells 23,541 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Earnest Partners LLC reduced its stake in Cirrus Logic, Inc. by 1.7% during Q1, owning approximately 2.52% of the company valued at $133.6 million after selling 23,541 shares.
• Cirrus Logic reported $1.51 earnings per share for the last quarter, exceeding analysts' expectations of $1.07, with revenue increasing 8.9% year-over-year to $407.27 million.
• Analysts have mixed views on Cirrus Logic, with Barclays increasing its target price to $90.00, while Wall Street Zen downgraded the stock from "strong-buy" to "buy"; the stock currently holds an average rating of "Moderate Buy."

Earnest Partners LLC lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,340,599 shares of the semiconductor company's stock after selling 23,541 shares during the quarter. Earnest Partners LLC owned 2.52% of Cirrus Logic worth $133,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CRUS. Castlekeep Investment Advisors LLC purchased a new position in shares of Cirrus Logic in the fourth quarter worth $170,796,000. 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 valued at $111,380,000 after acquiring an additional 553,169 shares during the last quarter. Nuveen LLC purchased a new stake in Cirrus Logic during the first quarter valued at $49,364,000. Deutsche Bank AG increased its position in Cirrus Logic by 139.4% during the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock valued at $58,427,000 after acquiring an additional 341,615 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cirrus Logic by 228.8% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,495 shares of the semiconductor company's stock valued at $43,068,000 after acquiring an additional 300,942 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRUS. Stifel Nicolaus set a $120.00 price objective on Cirrus Logic in a research report on Wednesday, May 7th. Barclays upped their price objective on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Stock Down 1.0%

CRUS traded down $1.17 during midday trading on Monday, reaching $114.19. The company had a trading volume of 356,305 shares, compared to its average volume of 652,107. The business has a 50-day moving average of $107.19 and a two-hundred day moving average of $101.98. The company has a market cap of $5.86 billion, a P/E ratio of 17.87 and a beta of 1.02. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.44. The business had revenue of $407.27 million during the quarter, compared to analysts' expectations of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic declared that its board has authorized a share repurchase program on Tuesday, May 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Carl Jackson Alberty sold 2,000 shares of the company's stock in a transaction dated 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 in the company, 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 SEC, which is available through this hyperlink. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total value of $1,000,000.00. Following the completion of the sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,400,100. The trade was a 41.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company's stock.

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.