Nuveen LLC Acquires New Shares in Cirrus Logic, Inc. $CRUS

Key Points

• Nuveen LLC has acquired a new stake in Cirrus Logic, Inc., purchasing 495,326 shares valued at approximately $49.36 million, representing 0.93% of the company's stock as of the latest reporting period.
• Insider transactions show that Director Alexander M. Davern and EVP Jeffrey W. Baumgartner sold shares, decreasing their positions by 4.56% and 41.66% respectively, indicating potential shifts in management interest.
• Analysts have adjusted their ratings and target prices, with Barclays raising their target price to $90.00 and Stifel Nicolaus setting it at $120.00, while the average analyst rating is a "Moderate Buy."

Nuveen LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 495,326 shares of the semiconductor company's stock, valued at approximately $49,364,000. Nuveen LLC owned approximately 0.93% of Cirrus Logic at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cirrus Logic during the first quarter valued at about $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Cirrus Logic during the first quarter valued at about $50,000. UMB Bank n.a. boosted its stake 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 valued at $52,000 after purchasing an additional 290 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Cirrus Logic during the fourth quarter valued at about $63,000. Finally, Menard Financial Group LLC acquired a new stake in shares of Cirrus Logic during the fourth quarter valued at about $67,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Cirrus Logic stock traded up $0.2720 during mid-day trading on Tuesday, reaching $113.2620. The stock had a trading volume of 85,393 shares, compared to its average volume of 641,656. The firm has a market capitalization of $5.81 billion, a PE ratio of 17.77 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. The stock's 50-day simple moving average is $105.10 and its 200-day simple moving average is $101.31.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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 return on equity of 18.38% and a net margin of 18.15%.Cirrus Logic's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic declared that its board has authorized 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 reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

CRUS has been the subject of a number of analyst reports. Barclays raised their price objective 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. Wall Street Zen downgraded Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Finally, Stifel Nicolaus set a $120.00 target price on Cirrus Logic in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $121.00.

Insiders Place Their Bets

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total value of $105,620.00. Following the completion of the transaction, the director owned 20,907 shares in the company, valued at $2,208,197.34. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic 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 in the company, valued at $4,164,500. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,000 shares of company stock valued at $1,305,620. Insiders own 1.16% of the company's stock.

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.