Price T Rowe Associates Inc. MD Purchases 8,460 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Price T Rowe Associates Inc. MD raised its stake in Cirrus Logic, Inc. by 2.1% during the first quarter, acquiring an additional 8,460 shares to bring its total holdings to 408,552 shares, valued at approximately $40.7 million.
• Institutional ownership of Cirrus Logic stock is significant, with 87.96% of the shares currently held by institutions and hedge funds.
• Cirrus Logic's latest quarterly earnings reported $1.51 EPS, easily beating analysts' expectations of $1.07 EPS, alongside a revenue of $407.27 million, up 8.9% year-over-year.

Price T Rowe Associates Inc. MD increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,552 shares of the semiconductor company's stock after purchasing an additional 8,460 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.77% of Cirrus Logic worth $40,715,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRUS. Castlekeep Investment Advisors LLC acquired a new position in Cirrus Logic during the 4th quarter worth approximately $170,796,000. Nuveen LLC acquired a new position in Cirrus Logic during the 1st quarter worth approximately $49,364,000. Deutsche Bank AG increased its position in Cirrus Logic by 139.4% during the 4th quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company's stock worth $58,427,000 after purchasing an additional 341,615 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Cirrus Logic by 228.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,495 shares of the semiconductor company's stock worth $43,068,000 after purchasing an additional 300,942 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Cirrus Logic by 12.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after purchasing an additional 196,483 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 41,645 shares in the company, valued at $4,164,500. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was 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. This trade represents a 41.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company's stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $117.20 on Thursday. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The firm has a 50 day moving average price of $106.78 and a two-hundred day moving average price of $101.88. The stock has a market cap of $6.02 billion, a P/E ratio of 18.34 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly 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. 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 analysts' expectations of $361.97 million. During the same period in the prior year, the company posted $1.12 EPS. The company's revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. Analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.

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