Cirrus Logic (NASDAQ:CRUS) Reaches New 12-Month High After Better-Than-Expected Earnings

Cirrus Logic, Inc. (NASDAQ:CRUS)’s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $139.91 and last traded at $140.4030, with a volume of 214394 shares changing hands. The stock had previously closed at $124.58.

The semiconductor company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. The firm had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 earnings per share.

More Cirrus Logic News

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: Q3 beat and record revenue — Cirrus reported stronger-than-expected Q3 results and highlighted smartphone-driven demand and a favorable product mix, which underpins the rally. Earnings Call Highlights
• Positive Sentiment: Very strong guidance — Management’s outlook for the next quarter exceeded street expectations and triggered an immediate surge in the stock. Guidance Story
• Positive Sentiment: Analysts lifting targets — Multiple firms raised their forecasts and price targets (examples: Stifel, Benchmark), citing the beat and outlook, which supports further upside. Analyst Coverage
• Positive Sentiment: Visible demand linkage to Apple — Coverage and video commentary highlight Cirrus’s ties to Apple hardware cycles, which can amplify upside when iPhone content per device and volumes rise. AAPL Tie Analysis
• Neutral Sentiment: Earnings materials available — Full earnings presentation and call transcript provide detail for investors to vet mix, margin and backlog assumptions. Presentation & Transcript
• Neutral Sentiment: Conflicting analyst views — Coverage notes mixed sentiment across the analyst community despite the beat, suggesting differing views on sustainability and sharecentration. Analyst Sentiment Roundup
• Negative Sentiment: Downgrade risk — Loop Capital moved to a Hold, signaling that some firms think upside may be limited from current levels. Loop Capital Downgrade
• Negative Sentiment: Durability concerns raised — A critical analysis argues the headline earnings miss underlying issues (concentration to a few customers and sustainability of mix gains), which could cap multiple expansion if validated. Critical Analysis

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Susquehanna raised their target price on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Benchmark lifted their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Monday. Finally, KeyCorp raised their price target on shares of Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.43.

Insider Activity

In related news, EVP Andrew Brannan sold 8,913 shares of Cirrus Logic stock in a transaction on Friday, November 14th. The shares were sold at an average price of $119.06, for a total value of $1,061,181.78. Following the sale, the executive vice president owned 5,950 shares of the company’s stock, valued at approximately $708,407. This trade represents a 59.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cirrus Logic

Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake in shares of Cirrus Logic by 1,660.0% during the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 249 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Cirrus Logic in the 2nd quarter worth about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic in the 4th quarter worth about $33,000. Torren Management LLC purchased a new stake in Cirrus Logic during the 4th quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $39,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Up 3.8%

The firm has a 50-day moving average price of $123.94 and a two-hundred day moving average price of $119.89. The firm has a market cap of $7.15 billion, a PE ratio of 18.46 and a beta of 1.12.

Cirrus Logic Company 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.