Hotchkis & Wiley Capital Management LLC Purchases Shares of 30,460 Cirrus Logic, Inc. $CRUS

Key Points

• Hotchkis & Wiley Capital Management has acquired 30,460 shares of Cirrus Logic, Inc., valued at approximately $3.04 million, raising their stake to 0.06% of the company.
• Cirrus Logic reported a significant earnings beat with $1.51 EPS for the last quarter, exceeding estimates, and its revenue increased by 8.9% year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for Cirrus Logic, with a target price of $121.00, despite a recent downgrade from Wall Street Zen.

Hotchkis & Wiley Capital Management LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 30,460 shares of the semiconductor company's stock, valued at approximately $3,035,000. Hotchkis & Wiley Capital Management LLC owned about 0.06% of Cirrus Logic at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Cirrus Logic in the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Cirrus Logic in the 1st quarter valued at $50,000. UMB Bank n.a. grew its position in shares of Cirrus Logic by 124.5% in the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after buying an additional 290 shares during the last quarter. Menard Financial Group LLC purchased a new position in Cirrus Logic during the 4th quarter worth $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 155 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRUS has been the topic of several research reports. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research report on Wednesday, May 7th. Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Finally, Barclays raised their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

Cirrus Logic Stock Performance

Cirrus Logic stock traded down $1.17 during trading on Friday, reaching $114.19. The company had a trading volume of 356,305 shares, compared to its average volume of 665,205. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The stock's 50 day moving average price is $107.19 and its two-hundred day moving average price is $102.02. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 17.87 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its 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 net margin of 18.15% and a return on equity of 18.38%. 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 previous year, the firm earned $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. As a group, research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic declared that its board has approved a stock repurchase program on Tuesday, May 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related 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 value of $200,000.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the business'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 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. 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.