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

Cirrus Logic (NASDAQ:CRUS) issued its quarterly earnings results on Tuesday. The semiconductor company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51, Briefing.com reports. 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 quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. Cirrus Logic updated its Q3 2026 guidance to EPS.

Cirrus Logic Stock Down 1.2%

Cirrus Logic stock opened at $129.63 on Wednesday. Cirrus Logic has a 52 week low of $75.83 and a 52 week high of $136.92. The business has a 50-day simple moving average of $123.33 and a 200 day simple moving average of $110.43. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 20.29 and a beta of 1.09.

Analyst Ratings Changes

Several brokerages have issued reports on CRUS. Zacks Research upgraded Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Stifel Nicolaus boosted their target price on Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 18th. Weiss Ratings restated a “hold (c)” rating on shares of Cirrus Logic in a research note on Wednesday, October 8th. Finally, KeyCorp boosted their target price on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $134.17.

Insider Transactions at Cirrus Logic

In other news, EVP Scott Thomas sold 11,089 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $121.49, for a total value of $1,347,202.61. Following the completion of the transaction, the executive vice president directly owned 26,307 shares in the company, valued at approximately $3,196,037.43. This represents a 29.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Denise Grode sold 2,202 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $116.87, for a total value of $257,347.74. Following the completion of the transaction, the executive vice president owned 5,698 shares of the company’s stock, valued at $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,187 shares of company stock worth $3,918,128. 1.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of CRUS. Geneos Wealth Management Inc. boosted its holdings in shares of Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 232 shares in the last quarter. State of Wyoming purchased a new stake in Cirrus Logic during the 2nd quarter valued at about $64,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cirrus Logic by 24.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 263 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Cirrus Logic by 241.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,491 shares of the semiconductor company’s stock valued at $155,000 after acquiring an additional 1,054 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Cirrus Logic by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,685 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 187 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.