Invesco Ltd. Sells 284,428 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Invesco Ltd. has reduced its stake in Cirrus Logic, Inc. by 46.9% to approximately $32.12 million, following the sale of over 284,000 shares in the first quarter.
• Institutional investors, including Vanguard Group Inc. and Citigroup Inc., have increased their holdings in Cirrus Logic, which now boasts a 87.96% ownership by such entities.
• Cirrus Logic's stock received a range of ratings from Wall Street analysts, with a current consensus rating of "Moderate Buy" and an average price target of $121.00.

Invesco Ltd. decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 46.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,280 shares of the semiconductor company's stock after selling 284,428 shares during the quarter. Invesco Ltd. owned about 0.61% of Cirrus Logic worth $32,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. May Hill Capital LLC grew its position in shares of Cirrus Logic by 5.4% in the first quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 113 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in shares of Cirrus Logic by 3.7% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company's stock valued at $343,000 after purchasing an additional 124 shares during the last quarter. Allworth Financial LP grew its position in shares of Cirrus Logic by 2.5% in the first quarter. Allworth Financial LP now owns 6,246 shares of the semiconductor company's stock valued at $577,000 after purchasing an additional 154 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cirrus Logic by 17.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 155 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Cirrus Logic by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 55,852 shares of the semiconductor company's stock valued at $5,565,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president owned 14,001 shares of the company's stock, valued at approximately $1,400,100. This trade represents a 41.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carl Jackson Alberty sold 2,000 shares of the firm'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 completion of the sale, the executive vice president directly owned 41,645 shares in the company, valued at approximately $4,164,500. This represents a 4.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRUS. Wall Street Zen downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Stifel Nicolaus set a $120.00 target price on Cirrus Logic in a research report on Wednesday, May 7th. Finally, Barclays upped their target price on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $121.00.

Cirrus Logic Stock Down 1.2%

Shares of CRUS stock traded down $1.37 during trading hours on Monday, reaching $116.01. The company's stock had a trading volume of 276,509 shares, compared to its average volume of 619,360. The firm's 50 day simple moving average is $106.25 and its 200-day simple moving average is $101.67. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.15 and a beta of 0.92. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its 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. The firm had revenue of $407.27 million for the quarter, compared to the consensus estimate of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The company's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

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

Cirrus Logic Company 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.