LPL Financial LLC Has $1.60 Million Position in Cirrus Logic, Inc. $CRUS

Key Points

• LPL Financial LLC has increased its holdings in Cirrus Logic, Inc. by 20.2%, now owning 16,026 shares valued at approximately $1.60 million.
• Cirrus Logic reported a Q3 earnings per share (EPS) of $1.51, exceeding expectations by $0.44, and a revenue of $407.27 million, illustrating 8.9% growth from the previous year.
• The company approved a $500 million stock repurchase plan, indicating that the board believes its shares are currently undervalued.

LPL Financial LLC boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 20.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,026 shares of the semiconductor company's stock after buying an additional 2,698 shares during the quarter. LPL Financial LLC's holdings in Cirrus Logic were worth $1,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. 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.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Cirrus Logic news, EVP Carl Jackson Alberty sold 2,000 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 $200,000.00. Following the sale, the executive vice president owned 41,645 shares of the company's stock, valued at approximately $4,164,500. This trade represents a 4.58% 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 Jeffrey W. Baumgartner sold 10,000 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 $1,000,000.00. Following the completion of the sale, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,400,100. This represents a 41.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.16% of the company's stock.

Cirrus Logic Stock Up 0.4%

Shares of CRUS stock traded up $0.47 during trading hours on Wednesday, reaching $117.20. The company's stock had a trading volume of 531,754 shares, compared to its average volume of 646,196. The firm's 50 day simple moving average is $106.78 and its 200-day simple moving average is $101.88. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 18.34 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 announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.