EFG Asset Management North America Corp. Increases Stock Position in 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. lifted its stake 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 acquiring an additional 5,526 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Cirrus Logic were worth $2,293,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Cirrus Logic by 131.5% during the first quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company's stock worth $103,456,000 after purchasing an additional 604,337 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Cirrus Logic by 98.0% during the 1st 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 period. Nuveen LLC acquired a new position in Cirrus Logic in the 1st quarter valued at about $49,364,000. Deutsche Bank AG increased its stake in Cirrus Logic by 139.4% during the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock worth $58,427,000 after purchasing an additional 341,615 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Cirrus Logic by 12.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after purchasing an additional 196,483 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS traded down $1.01 on Tuesday, hitting $116.42. 585,975 shares of the company's stock were exchanged, compared to its average volume of 630,687. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $137.73. The company has a market capitalization of $5.98 billion, a PE ratio of 18.22 and a beta of 1.02. The firm's 50-day moving average is $108.22 and its 200 day moving average is $102.18.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.44. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The firm had revenue of $407.27 million during the quarter, compared to the consensus estimate of $361.97 million. During the same period in the prior year, the company posted $1.12 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic 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 directly owned 14,001 shares in the company, valued at $1,565,031.78. This trade represents a 41.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is owned by company insiders.

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.