EFG Asset Management North America Corp. Purchases 5,526 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• EFG Asset Management North America Corp. increased its stake in Cirrus Logic, Inc. by 31.6%, owning a total of 23,019 shares worth approximately $2.29 million at the end of the first quarter.
• Wall Street analysts have assigned a Moderate Buy rating to Cirrus Logic with an average price target of $121.00, despite a recent downgrade from "strong-buy" to "buy" by Wall Street Zen.
• Cirrus Logic reported earnings of $1.51 per share for the last quarter, exceeding analyst expectations by $0.44, and generated revenue of $407.27 million, which is an 8.9% increase year-over-year.

EFG Asset Management North America Corp. grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 31.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,019 shares of the semiconductor company's stock after purchasing an additional 5,526 shares during the period. EFG Asset Management North America Corp.'s holdings in Cirrus Logic were worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake 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. Menard Financial Group LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cirrus Logic by 17.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after buying an additional 155 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded down $5.46 during trading on Wednesday, hitting $110.96. The company's stock had a trading volume of 201,712 shares, compared to its average volume of 628,293. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $137.73. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 17.38 and a beta of 1.02. The stock has a 50-day moving average price of $108.37 and a two-hundred day moving average price of $102.28.

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.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.00.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $111.78, for a total transaction of $1,117,800.00. Following the sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,565,031.78. This represents a 41.66% 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. Company insiders own 1.16% of the company's stock.

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.