Cirrus Logic (NASDAQ:CRUS) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Cirrus Logic (NASDAQ:CRUS) released its earnings results on Tuesday. The semiconductor company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.32 by $0.51, Briefing.com reports. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.The business had revenue of $560.96 million during the quarter, compared to analysts’ expectations of $540.45 million. During the same quarter last year, the firm posted $2.25 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Cirrus Logic updated its Q3 2026 guidance to EPS.

Cirrus Logic Stock Up 2.3%

Shares of NASDAQ:CRUS opened at $122.18 on Thursday. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 19.01 and a beta of 1.09. Cirrus Logic has a 12-month low of $75.83 and a 12-month high of $136.92. The business’s 50 day moving average is $123.37 and its 200 day moving average is $110.49.

Insider Activity at Cirrus Logic

In related news, EVP Scott Thomas sold 11,089 shares of Cirrus Logic stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $121.49, for a total transaction of $1,347,202.61. Following the transaction, the executive vice president owned 26,307 shares of the company’s stock, valued at $3,196,037.43. The trade was a 29.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $111.78, for a total value of $1,117,800.00. Following the sale, the executive vice president owned 14,001 shares in the company, valued at $1,565,031.78. This trade represents a 41.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,187 shares of company stock valued at $3,918,128 over the last 90 days. Insiders own 1.16% of the company’s stock.

Institutional Trading of Cirrus Logic

Hedge funds have recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new stake in Cirrus Logic during the second quarter worth $315,000. Occudo Quantitative Strategies LP raised its stake in shares of Cirrus Logic by 78.9% in the second quarter. Occudo Quantitative Strategies LP now owns 4,476 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 1,974 shares during the period. NewEdge Advisors LLC raised its stake in shares of Cirrus Logic by 417.0% in the second quarter. NewEdge Advisors LLC now owns 3,536 shares of the semiconductor company’s stock valued at $369,000 after buying an additional 2,852 shares during the period. Brown Advisory Inc. raised its stake in shares of Cirrus Logic by 5.5% in the second quarter. Brown Advisory Inc. now owns 3,503 shares of the semiconductor company’s stock valued at $365,000 after buying an additional 184 shares during the period. Finally, M&T Bank Corp bought a new stake in shares of Cirrus Logic in the second quarter valued at $269,000. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRUS. Zacks Research raised Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Williams Trading set a $150.00 target price on Cirrus Logic in a research note on Wednesday. Barclays raised their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Stifel Nicolaus raised their target price on Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, KeyCorp raised their target price on Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

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.