Canada Pension Plan Investment Board Makes New $19.71 Million Investment in Cirrus Logic, Inc. $CRUS

Canada Pension Plan Investment Board purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 132,700 shares of the semiconductor company’s stock, valued at approximately $19,710,000. Canada Pension Plan Investment Board owned about 0.26% of Cirrus Logic at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at about $840,638,000. LSV Asset Management lifted its stake in Cirrus Logic by 1.0% in the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after purchasing an additional 23,703 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Cirrus Logic by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,578,555 shares of the semiconductor company’s stock worth $187,059,000 after purchasing an additional 11,307 shares during the period. Dimensional Fund Advisors LP grew its holdings in Cirrus Logic by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock worth $192,055,000 after purchasing an additional 83,897 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Cirrus Logic by 33.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,073,623 shares of the semiconductor company’s stock worth $127,224,000 after buying an additional 269,391 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 1,166 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $117.89, for a total transaction of $137,459.74. Following the transaction, the executive vice president owned 14,073 shares in the company, valued at $1,659,065.97. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of Cirrus Logic stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This represents a 4.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,631 shares of company stock worth $2,536,629 in the last ninety days. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. KeyCorp decreased their target price on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Zacks Research cut Cirrus Logic from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Wall Street Zen cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus cut their price target on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Five research 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’s stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of “Hold” and an average target price of $150.71.

Trending Headlines about 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

Cirrus Logic Stock Down 2.2%

Shares of CRUS stock opened at $108.48 on Friday. The firm has a 50 day moving average price of $133.85 and a two-hundred day moving average price of $147.51. The company has a market capitalization of $5.44 billion, a PE ratio of 13.28 and a beta of 1.18. Cirrus Logic, Inc. has a 12-month low of $108.12 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The company 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%.The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, research analysts expect that Cirrus Logic, Inc. will post 7.32 EPS for the current year.

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.