Citigroup Inc. Has $9.31 Million Stock Position in Cirrus Logic, Inc. $CRUS

Key Points

• Citigroup Inc. increased its stake in Cirrus Logic by 10.7% in Q1, owning 93,389 shares valued at approximately $9.3 million.
• Cirrus Logic reported earnings of $1.51 per share in its latest quarter, exceeding analysts' forecast of $1.07 and showing a year-over-year revenue increase of 8.9%.
• The company's board has authorized a stock buyback plan allowing Cirrus Logic to repurchase up to $500 million in shares, indicating the board's belief that the stock is **undervalued**.

Citigroup Inc. lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,389 shares of the semiconductor company's stock after buying an additional 9,050 shares during the period. Citigroup Inc. owned about 0.18% of Cirrus Logic worth $9,307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Cirrus Logic during the first quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Cirrus Logic during the first quarter worth $50,000. UMB Bank n.a. increased its holdings in shares of Cirrus Logic by 124.5% during the first quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after buying an additional 290 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth $63,000. Finally, Menard Financial Group LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth $67,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Carl Jackson Alberty sold 2,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the sale, the executive vice president owned 41,645 shares of the company's stock, valued at approximately $4,164,500. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company's stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Barclays upped their price target 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 objective on shares of Cirrus Logic in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $1.15 during trading on Thursday, hitting $113.97. The company's stock had a trading volume of 379,386 shares, compared to its average volume of 633,726. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $147.46. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 17.84 and a beta of 0.92. The stock has a 50-day moving average price of $105.68 and a two-hundred day moving average price of $101.57.

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, topping the consensus estimate of $1.07 by $0.44. The company 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%. Cirrus Logic's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, equities analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

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.