Cirrus Logic, Inc. $CRUS Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Cirrus Logic, Inc. by 149.7% in Q1, holding a total of 131,034 shares valued at approximately $13 million.
• Cirrus Logic's recent quarterly earnings report showed an EPS of $1.51, surpassing expectations, with revenue rising 8.9% year-over-year to $407.27 million.
• The company announced a $500 million stock repurchase plan, indicating management’s belief that its stock is undervalued, with institutional investors owning 87.96% of the company.

Raymond James Financial Inc. boosted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 149.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,034 shares of the semiconductor company's stock after purchasing an additional 78,565 shares during the quarter. Raymond James Financial Inc. owned about 0.25% of Cirrus Logic worth $13,058,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new stake in shares of Cirrus Logic in the first quarter valued at about $30,000. N.E.W. Advisory Services LLC acquired a new position in Cirrus Logic in the 1st quarter valued at about $50,000. UMB Bank n.a. increased its position in Cirrus Logic by 124.5% in the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 290 shares during the period. Menard Financial Group LLC purchased a new stake in Cirrus Logic during the 4th quarter valued at approximately $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Stock Performance

CRUS traded down $0.71 on Wednesday, hitting $112.48. 104,394 shares of the company were exchanged, compared to its average volume of 632,637. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $141.16. The firm has a market capitalization of $5.77 billion, a P/E ratio of 17.54 and a beta of 1.02. The business's fifty day moving average is $107.49 and its 200 day moving average is $102.10.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.07 by $0.44. The business had revenue of $407.27 million for the quarter, compared to analyst estimates of $361.97 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. Cirrus Logic has set its Q2 2026 guidance at EPS. Analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic announced that its Board of Directors has approved 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 repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of recent research reports. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Barclays boosted their price objective on shares of 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, Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

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.