Cirrus Logic, Inc. $CRUS Position Raised by Citigroup Inc.

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. increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Services Network LLC grew its position in shares of Cirrus Logic by 126.0% in the fourth quarter. Advisory Services Network LLC now owns 3,546 shares of the semiconductor company's stock valued at $353,000 after purchasing an additional 1,977 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cirrus Logic during the 4th quarter valued at $5,225,000. Sterling Capital Management LLC increased its position in Cirrus Logic by 56.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,212 shares of the semiconductor company's stock worth $320,000 after buying an additional 1,161 shares in the last quarter. Barclays PLC raised its holdings in shares of Cirrus Logic by 0.9% in the fourth quarter. Barclays PLC now owns 99,414 shares of the semiconductor company's stock worth $9,899,000 after acquiring an additional 932 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Cirrus Logic by 32.0% in the fourth quarter. Mariner LLC now owns 6,648 shares of the semiconductor company's stock worth $662,000 after acquiring an additional 1,610 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In other news, 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 $1,400,100. This represents a 41.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carl Jackson Alberty sold 2,000 shares of the firm'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 $200,000.00. Following 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 disclosure for this sale can be found here. Insiders own 1.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus set a $120.00 price objective on Cirrus Logic in a research report on Wednesday, May 7th. Barclays lifted 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, Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus target price of $121.00.

Cirrus Logic Stock Down 0.6%

Shares of NASDAQ CRUS traded down $0.7150 during trading on Wednesday, hitting $112.3950. 159,465 shares of the company traded hands, compared to its average volume of 640,620. The firm has a market capitalization of $5.77 billion, a P/E ratio of 17.59 and a beta of 0.92. The company has a 50-day moving average price of $105.25 and a 200-day moving average price of $101.39. 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 announced its quarterly earnings results 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 firm 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 company posted $1.12 earnings per share. Cirrus Logic's revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. Research 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 initiated a share buyback program on Tuesday, May 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is 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.