Panagora Asset Management Inc. Buys 188,093 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Panagora Asset Management Inc. boosted its position in Cirrus Logic, Inc. by 64.4%, acquiring an additional 188,093 shares in the first quarter, bringing its total ownership to 479,998 shares valued at approximately $47.83 million.
• Cirrus Logic recently reported stronger-than-expected earnings results for the quarter, with an EPS of $1.51, surpassing estimates by $0.44, which contributed to its upgraded stock ratings from several brokerages.
• The company has initiated a stock repurchase plan authorizing the buyback of up to $500 million in shares, indicating a belief that its stock is undervalued, while institutional investors hold 87.96% of its stock.

Panagora Asset Management Inc. increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 64.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,998 shares of the semiconductor company's stock after buying an additional 188,093 shares during the period. Panagora Asset Management Inc. owned 0.90% of Cirrus Logic worth $47,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRUS. Castlekeep Investment Advisors LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at approximately $170,796,000. Ameriprise Financial Inc. raised its position in Cirrus Logic by 98.0% during the first quarter. Ameriprise Financial Inc. now owns 1,117,526 shares of the semiconductor company's stock valued at $111,380,000 after purchasing an additional 553,169 shares during the period. Nuveen LLC purchased a new stake in Cirrus Logic during the first quarter valued at approximately $49,364,000. Deutsche Bank AG raised its position in Cirrus Logic by 139.4% during the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock valued at $58,427,000 after purchasing an additional 341,615 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cirrus Logic by 228.8% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,495 shares of the semiconductor company's stock valued at $43,068,000 after purchasing an additional 300,942 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Down 0.0%

NASDAQ:CRUS traded down $0.03 during midday trading on Wednesday, hitting $113.16. The stock had a trading volume of 381,452 shares, compared to its average volume of 634,326. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $141.16. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 17.71 and a beta of 1.02. The stock has a 50-day moving average of $107.49 and a 200 day moving average of $102.10.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.44. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The company had revenue of $407.27 million for the quarter, compared to analysts' expectations of $361.97 million. During the same quarter in the prior 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. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Stifel Nicolaus set a $120.00 price objective on Cirrus Logic in a research report on Wednesday, May 7th. 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 note on Wednesday, May 7th. Finally, Wall Street Zen cut Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

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.