Cirrus Logic, Inc. (CRUS) Stock Price & How to Invest

Cirrus Logic, Inc. is a fabless semiconductor company based in Austin, Texas that designs low-power, high-precision analog and mixed-signal integrated circuits. Its two product families are audio (smart codecs, boosted amplifiers, haptic and sensing drivers) and high-performance mixed-signal, or HPMS (camera controllers, power converters, and battery and display-related silicon). Those chips ship primarily into smartphones, with a growing presence in laptops, tablets, and AR/VR headsets. The company outsources fabrication and focuses on circuit design, software, and the tight co-engineering relationships that get a part designed into a flagship handset years before it ships.

The investment picture is a study in quality versus concentration. Fiscal 2026 (ended March 2026) delivered record revenue of ~$2.0 billion, GAAP EPS of ~$7.85, gross margin near 53%, return on equity above 20%, and a balance sheet carrying almost no debt. The first quarter of fiscal 2027 (ended June 27, 2026) kept that going: revenue of about $460 million, roughly 13% above a year earlier, net income of about $77 million, and non-GAAP EPS of $1.84 against a $1.81 consensus. Against that, Apple accounted for roughly 91% of fiscal 2026 net sales, and about 92% in the March quarter. The market has historically applied a persistent discount for that dependency, which is why a business with these margins trades in the low teens on earnings. Management's answer is content expansion (more silicon per handset, including next-generation camera controllers and a first 3D-sensing smart power IC), diversification into PCs, where the company has secured more than 150 laptop design slots, and now M&A. On October 6, 2026 Cirrus announced the acquisition of INVENTVM Semiconductor, a fabless power-management and audio IC designer in Pavia, Italy (terms undisclosed, not material to revenue). On October 13, 2026 it confirmed it had been the unnamed bidder making proposals for Synaptics, which has a pending merger with onsemi, and said it is no longer pursuing a deal. KeyBanc downgraded the stock to Sector Weight on October 15. Shares closed at $110.22 on October 16, 2026, down about 8% year to date, 11% over one year, and near the bottom of a $105 to $180 52-week range. Fiscal Q2 2027 results are due November 4, 2026, with consensus near $540 million of revenue and $2.42 of EPS, the seasonal ramp tied to new iPhone builds.

Customer concentration is the dominant risk and it is extreme: Apple represented approximately 91% of fiscal 2026 net sales, so a design loss, a component redesign, or a shift in Apple's in-house silicon strategy could reset revenue in a single product cycle. The market has repeatedly repriced the stock on rumours of iPhone design changes, which is a large part of why shares traded between roughly $105 and $180 over the past 52 weeks, and the stock fell about 21% over the three months to October 16, 2026. Analysts expect fiscal 2027 EPS (about $8.38) to come in below fiscal 2026, and Zacks and others have flagged pricing pressure on gross margin. M&A adds a new risk: the Synaptics episode showed management willing to consider a large deal, and integration of acquisitions, even small ones like INVENTVM, takes engineering attention. Smartphone unit demand is cyclical and sensitive to consumer spending, and the fabless model leaves the company dependent on third-party foundries and test partners for supply. Diversification into PCs and new categories is real but still small relative to the smartphone base. Tariffs and trade tensions touching consumer electronics supply chains add a further layer of uncertainty.

3 analysts publish price targets on CRUS, averaging $141.67 against a $111.98 price as of November 2026, or +26.5%. The published targets run from $95.00 to $170.00, a moderate spread, and the ratings split 2 buy, 2 hold, 1 sell. Over the last six months there have been 0 raises and 7 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full CRUS forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Cirrus Logic, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Rising silicon content per smartphone. Cirrus Logic's clearest growth lever is selling more chips into each handset rather than selling into more handsets. The most optimistic published target, $170.00, assumes this works close to its best case.

The case against. Customer concentration is the dominant risk and it is extreme: Apple represented approximately 91% of fiscal 2026 net sales, so a design loss, a component redesign, or a shift in Apple's in-house silicon strategy could reset revenue in a single product cycle. The most pessimistic target, $95.00, is roughly what CRUS is worth if this bites instead.

Read the full bull and bear case on CRUS, including what would have to change to break either one. Walnut is not an investment adviser.

No. Cirrus Logic, Inc. (CRUS) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Cirrus Logic, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$2.05B; fiscal Q1 2027 ~$460M (+~13% YoY)
• Net income (TTM): ~$431M
• EPS (TTM GAAP / FQ1 2027 non-GAAP vs est.): ~$8.19 / $1.84 vs $1.81
• Margins (TTM): Gross ~52.8%, operating ~18.4%, net ~21%
• Market cap: ~$5.5B at $110.22 (Oct 16, 2026)
• P/E (trailing / forward): ~13.5x / ~12.4x
• Cash vs debt (Jun 2026): ~$891M cash vs ~$130M debt

Cirrus Logic trades near 13.5 times trailing and 12.4 times forward earnings despite gross margin above 50% and roughly $760 million of net cash, a gap the market generally attributes to Apple concentration. The stock slid about 21% over three months into mid-October 2026, through the Synaptics episode and a KeyBanc downgrade, and sits near the bottom of its ~$105 to ~$180 52-week range while the four-analyst mean target is about $165. The November 4, 2026 report (consensus ~$540 million revenue, $2.42 EPS) covers the iPhone build season.

Other names that sit close to CRUS: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get CRUS exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so CRUS sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where CRUS fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Cirrus Logic pairs genuinely excellent economics with one of the most concentrated customer bases in semiconductors, and the whole debate reduces to how much that concentration should discount the multiple. Its abandoned pursuit of Synaptics and the smaller INVENTVM purchase in October 2026 show management actively looking for a way to dilute that dependence.

Whether CRUS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CRUS a buy or a sell?, and where the stock could go from here in the CRUS stock forecast.

For income investors, whether CRUS pays a dividend and how the payout looks is covered in does CRUS pay a dividend? And to weigh CRUS against a peer, read the full side-by-side comparisons: CRUS vs TXN and CRUS vs ADI.