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Cirrus Logic

CRUS on Nasdaq. Cirrus Logic sells signal-processing chips to makers of mobile and consumer devices. Market value $6.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to March 2026.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing big in our quick check. See what could go wrong below.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
9.6%high

For every $100 of what the whole company costs, it produced $9.60 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to March 2026
n/a

The filings do not give us enough to work this out.

Quality score: 80 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.

$118.87 a share, 12% above its 1-year low

Over the past year the price has ranged from $106.26 to $180.42.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.1
0.3
0.4
0.4
0.6
0.6
2022202320242025202612 monthsto Jun '26
Revenue
$1.8bn$1.9bn$1.8bn$1.9bn$2.0bn
Operating margin
20.6%13.1%19.2%21.6%23.0%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.06bn0.05bn0.05bn0.05bn0.05bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)7 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsSlow, 7.8% a year
  • Buying back its own sharesYes, 9% fewer since 2022

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $460 million last quarter, up 13% on a year ago.
  • Profit: $77 million, up 27% on a year ago.
  • It keeps 23 cents of each $1 of sales as operating profit, about the same as a year earlier.
  • Spare cash over the past 12 months: $572 million, up from $458 million.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$542m
December 2024$556m
March 2025$424m
June 2025$407m
September 2025$561m
December 2025$581m
March 2026$449m
June 2026$460m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$102m
December 2024$116m
March 2025$71m
June 2025$61m
September 2025$132m
December 2025$140m
March 2026$82m
June 2026$77m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
21 May 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

6 long-term investors we follow own it, down from 7 last quarter. 578 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $14m, $13m of it under preset trading plans.

  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    21 September 2026
    Shares
    1,166
    Price
    $119.00
    Value
    $138,754
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    20 August 2026
    Shares
    1,166
    Price
    $117.89
    Value
    $137,460
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    20 July 2026
    Shares
    1,166
    Price
    $138.57
    Value
    $161,573
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    1,458
    Price
    $145.97
    Value
    $212,824
  • Brannan Andrew
    EVP, Worldwide Sales
    Sold
    under a preset trading plan
    Date
    29 June 2026
    Shares
    6,464
    Price
    $144.71
    Value
    $935,405
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    22 June 2026
    Shares
    1,170
    Price
    $168.23
    Value
    $196,829
  • THOMAS SCOTT
    EVP, General Counsel
    Sold
    under a preset trading plan
    Date
    3 June 2026
    Shares
    1,300
    Price
    $180.04
    Value
    $234,052
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    2 June 2026
    Shares
    3,907
    Price
    $168.54
    Value
    $658,486
  • Baumgartner Jeffrey W
    EVP, R&D
    Sold
    under a preset trading plan
    Date
    29 May 2026
    Shares
    11,171
    Price
    $171.65
    Value
    $2m
  • Brannan Andrew
    EVP, Worldwide Sales
    Sold
    under a preset trading plan
    Date
    29 May 2026
    Shares
    1,645
    Price
    $175.75
    Value
    $289,109

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 21 May 2026, plus the 10-Q filed 5 Aug 2026 and 2 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 91% last year. Losing that customer would hurt.

    “For fiscal years 2026, 2025, and 2024, we had one end customer, Apple Inc., who purchased through multiple contract manufacturers and represented approximately 91 percent, 89 percent, and 87 percent, of the Company’s total net sales, respectively.”

    From the 10-K filed 21 May 2026, Item 1. Business. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.