Corient Private Wealth LP acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 110,204 shares of the semiconductor company’s stock, valued at approximately $16,368,000. Corient Private Wealth LP owned 0.22% of Cirrus Logic as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of Cirrus Logic by 6.2% during the 4th quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 80 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 88 shares during the period. EP Wealth Advisors LLC boosted its stake in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after buying an additional 95 shares during the period. Diversified Trust Co increased its position in shares of Cirrus Logic by 1.1% during the first quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock valued at $1,316,000 after acquiring an additional 102 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CRUS. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. KeyCorp cut their price objective on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Barclays lowered their target price on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.71.
Cirrus Logic Trading Down 2.2%
Cirrus Logic stock opened at $108.48 on Friday. The firm has a market capitalization of $5.44 billion, a P/E ratio of 13.28 and a beta of 1.18. Cirrus Logic, Inc. has a twelve month low of $108.12 and a twelve month high of $180.42. The stock’s fifty day simple moving average is $133.85 and its 200-day simple moving average is $147.51.
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. The firm had revenue of $459.72 million during the quarter, compared to analysts’ expectations of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.Cirrus Logic’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 7.32 earnings per share for the current year.
Key Stories Impacting Cirrus Logic
Here are the key news stories impacting Cirrus Logic this week:
- Positive Sentiment: Zacks modestly raised its FY2029 EPS forecast to $8.73 from $8.58, suggesting some longer-term earnings potential despite the broader downgrade cycle. Cirrus Logic analyst estimates
- Neutral Sentiment: The revised FY2027 EPS estimate of $7.47 matches the current consensus forecast, while the company’s most recent quarterly results showed EPS slightly above expectations and revenue growth of 12.9% year over year. However, those results are not the focus of the latest analyst revisions. Cirrus Logic earnings and estimates
- Negative Sentiment: Zacks cut EPS forecasts across multiple periods, including FY2027 to $7.47 from $8.08, FY2028 to $7.75 from $8.53, Q2 2027 to $2.15 from $2.42, Q3 2027 to $2.48 from $2.76, Q1 2028 to $1.40 from $1.50, Q2 2028 to $2.21 from $2.42, Q3 2028 to $2.71 from $3.04, Q4 2028 to $1.42 from $1.56, and Q1 2029 to $1.52 from $1.54. The breadth of the reductions signals weaker expected earnings momentum and is likely the primary reason CRUS shares are decreasing. Zacks Research estimates for Cirrus Logic
Insider Activity at Cirrus Logic
In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 1,166 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $117.89, for a total value of $137,459.74. Following the sale, the executive vice president directly owned 14,073 shares of the company’s stock, valued at approximately $1,659,065.97. This represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the sale, the executive vice president owned 31,048 shares in the company, valued at $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,631 shares of company stock valued at $2,536,629 over the last 90 days. 1.20% of the stock is owned by corporate insiders.
Cirrus Logic Profile
Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.
The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.
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