Letko Brosseau & Associates Inc. Has $46.82 Million Position in Cirrus Logic, Inc. $CRUS

Letko Brosseau & Associates Inc. lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 449,054 shares of the semiconductor company’s stock after purchasing an additional 1,065 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Cirrus Logic were worth $46,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in shares of Cirrus Logic in the second quarter valued at about $270,000. Campbell & CO Investment Adviser LLC raised its position in shares of Cirrus Logic by 852.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 22,242 shares of the semiconductor company’s stock worth $2,319,000 after acquiring an additional 19,906 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Cirrus Logic by 72.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 298,512 shares of the semiconductor company’s stock valued at $31,121,000 after acquiring an additional 125,207 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Cirrus Logic during the 1st quarter valued at about $629,000. Finally, United Services Automobile Association bought a new stake in shares of Cirrus Logic during the first quarter worth approximately $358,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $119.31 on Friday. The company’s 50-day moving average price is $124.09 and its two-hundred day moving average price is $111.91. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $136.92. The stock has a market capitalization of $6.09 billion, a PE ratio of 18.67 and a beta of 1.11.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.51. The business had revenue of $560.96 million for the quarter, compared to analyst estimates of $540.45 million. Cirrus Logic had a return on equity of 18.38% and a net margin of 18.15%.Cirrus Logic’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. Cirrus Logic has set its Q3 2026 guidance at EPS. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Denise Grode sold 2,202 shares of Cirrus Logic stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $116.87, for a total transaction of $257,347.74. Following the completion of the transaction, the executive vice president owned 5,698 shares in the company, valued at approximately $665,925.26. This trade represents a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey W. Baumgartner sold 9,162 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $1,099,440.00. Following the completion of the sale, the executive vice president directly owned 14,001 shares of the company’s stock, valued at approximately $1,680,120. The trade was a 39.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,187 shares of company stock worth $3,918,128 over the last quarter. 1.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRUS shares. Susquehanna raised their price target on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Wall Street Zen lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their price objective on Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Benchmark raised their target price on shares of Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Cirrus Logic Profile

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.