Glenview Trust Co Acquires New Position in Cirrus Logic, Inc. $CRUS

Glenview Trust Co purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,958 shares of the semiconductor company’s stock, valued at approximately $1,776,000.

A number of other large investors have also added to or reduced their stakes in CRUS. Royal Bank of Canada increased its stake in Cirrus Logic by 92.3% during the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock worth $7,189,000 after acquiring an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cirrus Logic by 24.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cirrus Logic by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock worth $21,372,000 after buying an additional 9,658 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Cirrus Logic during the first quarter worth $361,000. Finally, Geneos Wealth Management Inc. lifted its stake in Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares during the period. Institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the sale, the executive vice president directly owned 31,048 shares in the company, valued at approximately $5,589,881.92. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $117.89, for a total transaction of $137,459.74. Following the completion of the sale, the executive vice president directly owned 14,073 shares of the company’s stock, valued at $1,659,065.97. The trade was a 7.65% 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. Over the last three months, insiders have sold 16,631 shares of company stock valued at $2,536,629. Company insiders own 1.20% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $108.48 on Friday. Cirrus Logic, Inc. has a one year low of $108.12 and a one year high of $180.42. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 13.28 and a beta of 1.18. The company’s 50 day moving average price is $133.85 and its 200 day moving average price is $147.51.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The firm had revenue of $459.72 million during the quarter, compared to analysts’ expectations of $460.32 million. During the same quarter in the prior year, the business earned $1.51 EPS. Cirrus Logic’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts forecast that Cirrus Logic, Inc. will post 7.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRUS shares. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Zacks Research cut shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Finally, KeyCorp decreased their price target on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.71.

More Cirrus Logic News

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 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.