Cirrus Logic, Inc. (CRUS) Stock Price & How to Invest
Last updated July 2026
Short answer
Cirrus Logic is a fabless mixed-signal chip designer whose audio and power management silicon sits inside almost every iPhone, so it is best understood as a high-margin, cash-rich Apple supplier rather than a broad semiconductor play. Investors typically weigh a modest valuation (trailing P/E around 16) and a debt-free balance sheet against the fact that roughly 91% of revenue comes from a single customer.
CRUS stock price
As of 2026-08-04, Cirrus Logic, Inc. (CRUS) last closed at $131.71, up 24.7% over the past year. Over the past 52 weeks it has traded between $97.25 and $178.90.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Cirrus Logic, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Cirrus Logic, Inc. (CRUS) do?
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 and a current ratio above 7. 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 mid-teens on trailing earnings. Management's answer is content expansion (more silicon per handset, including next-generation camera controllers and a first 3D-sensing smart power IC) plus diversification into PCs, where the company has secured more than 150 laptop design slots. Whether that shifts the multiple is the open question.
What's driving Cirrus Logic, Inc. (CRUS)?
1. Rising silicon content per smartphone
Cirrus Logic's clearest growth lever is selling more chips into each handset rather than selling into more handsets. Beyond its long-standing audio codecs and amplifiers, the company is shipping camera controllers and has a first 3D-sensing smart power IC in the design phase for future product generations at its largest customer. Each additional socket raises average revenue per device, which can grow the business even in a flat unit market.
2. Laptop and PC diversification
The PC push is the most tangible attempt to reduce single-customer exposure. Cirrus Logic has secured design wins across more than 150 laptop SKUs at major OEMs, and management has pointed to PC revenue roughly doubling in fiscal 2026 off a small base. The company frames a serviceable addressable market growing from roughly $6.8 billion in 2025 to about $8.5 billion by 2029, with the PC slice targeted near $1.2 billion.
3. Margin structure and balance sheet
Fiscal 2026 gross margin came in around 53%, near the top of the company's historical band, and guidance for the June 2026 quarter was 51% to 53%. The fabless model keeps capital intensity low, and the company holds a large net cash position with minimal debt, supplemented by a $350 million credit facility added in 2026. That combination funds a steady buyback and an expanded R&D program without needing external financing.
4. New end markets from existing IP
Management has signalled intent to point its mixed-signal and power IP at imaging, industrial, automotive, and professional audio applications. These are early-stage efforts that contribute little today, and the sales cycles are long. They matter mainly as the multi-year path to a revenue base that is not tethered to one handset roadmap.
What are the risks to Cirrus Logic, Inc. (CRUS)?
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 $92 and $180 over the past 52 weeks. 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, so it does not yet change the concentration math. Tariffs and trade tensions touching consumer electronics supply chains add a further layer of uncertainty.
What is the Cirrus Logic, Inc. (CRUS) forecast?
4 analysts publish price targets on CRUS, averaging $181.75 against a $127.33 price as of August 2026, or +42.7%. The published targets run from $140.00 to $200.00, a moderate spread, and the ratings split 3 buy, 2 hold, 0 sell. Over the last six months there have been 5 raises and 1 cut 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.
Is CRUS a buy or a sell?
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, $200.00, 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, $140.00, 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.
How is Cirrus Logic, Inc. (CRUS) valued? (approximate, August 2026)
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): ~$2.00B (+5.3% YoY, a record)
- Net income (TTM): ~$414M (+25% YoY)
- GAAP EPS (FY26): ~$7.85 (non-GAAP ~$9.26)
- Gross margin (FY26): ~53%
- Market cap: ~$6.4B
- Trailing P/E: ~16x
Cirrus Logic trades at a low-to-mid-teens multiple on trailing earnings despite gross margin above 50%, return on equity above 20%, and a near-debt-free balance sheet, a gap the market generally attributes to Apple concentration. Fourth-quarter fiscal 2026 revenue was ~$448.5 million, and guidance for the June 2026 quarter was ~$430 million to ~$490 million. The stock has traded in a wide ~$92 to ~$180 range over 52 weeks, which reflects how sharply sentiment swings on single-customer news.
Who competes with Cirrus Logic, Inc. (CRUS)?
Audio and mixed-signal chip designers
Qualcomm, Texas Instruments, Analog Devices, NXP, Realtek, and Synaptics all supply audio codecs, amplifiers, and mixed-signal parts into mobile and PC platforms. Most are far larger and more diversified, so they can absorb pricing pressure in any one socket in a way Cirrus Logic cannot.
Power management and sensing suppliers
As Cirrus Logic expands from audio into power converters, camera controllers, and 3D sensing, it runs into Renesas (Dialog), onsemi, MPS, and the power divisions of the large analog houses. These are the sockets that determine whether content per device keeps rising.
In-house customer silicon
The most consequential competitor is not a public peer. Apple has a long record of bringing supplier functions in house, and any move to internalise audio or power management would hit Cirrus Logic more directly than any external rival. The 10-K names this reliance explicitly as a principal risk.
What stocks are similar to Cirrus Logic, Inc. (CRUS)?
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.
How to invest in Cirrus Logic, Inc. (CRUS)
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.
The bottom line on Cirrus Logic, Inc. (CRUS)
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.
More on Cirrus Logic, Inc. (CRUS)
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.
Wondering how CRUS fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Cirrus Logic, Inc. with AI
Connect the broker you already use and ask Walnut's AI how CRUS fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does Cirrus Logic do?
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Cirrus Logic designs low-power analog and mixed-signal semiconductors, mainly audio codecs, boosted amplifiers, haptic drivers, camera controllers, and power management chips. It is fabless, meaning it designs the silicon and outsources manufacturing. Its parts ship primarily into smartphones, with growing presence in laptops, tablets, and AR/VR devices.
Why is Cirrus Logic called an Apple supplier stock?
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Apple accounted for approximately 91% of Cirrus Logic's fiscal 2026 net sales, and about 92% of revenue in the March 2026 quarter. Its audio and power chips ship in iPhones and other Apple devices, so the company's revenue trajectory closely tracks Apple's product cycles and unit volumes.
How profitable is Cirrus Logic?
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Fiscal 2026 revenue was a record ~$2.0 billion with net income of ~$414 million, GAAP EPS of ~$7.85, and gross margin near 53%. Return on equity ran above 20% and return on invested capital above 27%, with almost no debt on the balance sheet.
Why does Cirrus Logic trade at a low P/E?
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The stock has traded around 16 times trailing earnings, well below many semiconductor peers, largely because roughly 91% of revenue comes from one customer. The market discounts that concentration risk, since a single design loss or in-house replacement could reset the revenue base quickly.
Who are Cirrus Logic's main competitors?
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In audio and mixed-signal it competes with Qualcomm, Texas Instruments, Analog Devices, NXP, Realtek, and Synaptics. In power and sensing it faces Renesas (Dialog), onsemi, and MPS. The most significant competitive threat is arguably its largest customer developing equivalent silicon in house.
What are the biggest risks for Cirrus Logic?
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Extreme customer concentration is the primary risk, followed by smartphone demand cyclicality, dependence on third-party foundries under a fabless model, tariff and trade-tension exposure in consumer electronics supply chains, and the possibility that Apple redesigns or internalises components Cirrus Logic currently supplies.
How is Cirrus Logic trying to diversify?
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Two ways. First, by increasing silicon content per smartphone through new categories such as camera controllers and a first 3D-sensing smart power IC. Second, by expanding into laptops, where it has design wins across more than 150 SKUs, plus longer-term efforts in imaging, industrial, automotive, and professional audio.
Does Cirrus Logic pay a dividend?
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Cirrus Logic has not paid a regular dividend and instead returns capital through share repurchases, funded by its large net cash position. Investors looking at the stock generally focus on earnings growth and buyback-driven share count reduction rather than income.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Cirrus Logic, Inc.'s investor relations page or your broker before making investment decisions.