CIRRUS LOGIC, INC.
CRUS · Semiconductors & Related Devices · 50.6M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $97M (gross $186M, SBC $89M)
Reference price $168.23 · est. market cap ~$8.5B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Profitable, debt-free analog/mixed-signal maker with strong margins and free cash flow; customer concentration is the key risk.
Strengths
- Strong margins and returns — operating margin 23.0% (80th), net margin 20.7% (81st), ROA 16.6% (93rd)
- Strong FCF, debt-free — FCF margin 31.9% (93rd), current ratio 7.37 (87th)
- Earnings growth — net income +25.0% (76th)
Risks
- Large-customer concentration (Apple) per risk factors — qualitative (per 10-K)
- Modest revenue growth — +5.3% (31st)
- Smartphone-cycle and product-transition exposure — qualitative (per 10-K)
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $801M cash & investments
- Insider sellingInsider selling — 14 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$11M, last 6mo) Form 4 ↗
- China exposureBusiness & Operational Risks • Risks related to dependence on a limited number of customers and distributors and a lack of diversification in our revenue base, including risks related to the loss of
- Revenue declineRevenue -22.8% YoY
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
52.8%
Operating margin
23.0%
Net margin
20.7%
Return on equity
19.5%
Return on assets
16.6%
Revenue growth (QoQ)
-22.8%
Net-income growth
25.0%
Current ratio
7.4×
Free cash flow
$637M
EBITDA
$513M
Tangible book value
$1.7B
Cash & investments
$801M
Stock comp / revenue
4.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Baumgartner Jeffrey W | Sell | 1.2K | $168.23 |
| 2026-06-03 | THOMAS SCOTT | Option exercise | 1.3K | $78.00 |
| 2026-06-03 | THOMAS SCOTT | Sell | 1.3K | $180.04 |
| 2026-06-02 | Baumgartner Jeffrey W | Option exercise | 3.9K | $41.49 |
| 2026-06-02 | Baumgartner Jeffrey W | Sell | 3.9K | $168.54 |
| 2026-05-29 | Baumgartner Jeffrey W | Option exercise | 10K | $38.34 |
| 2026-05-29 | Baumgartner Jeffrey W | Sell | 11K | $171.65 |
| 2026-05-29 | Brannan Andrew | Sell | 1.6K | $175.75 |
| 2026-05-21 | Alberty Carl Jackson | Tax withheld | 419 | $166.62 |
| 2026-05-21 | Baumgartner Jeffrey W | Option exercise | 1.1K | — |
| 2026-05-21 | Baumgartner Jeffrey W | Tax withheld | 419 | $166.62 |
| 2026-05-21 | Brannan Andrew | Option exercise | 925 | — |
| 2026-05-21 | Brannan Andrew | Tax withheld | 463 | $166.62 |
| 2026-05-21 | THOMAS SCOTT | Option exercise | 1.1K | — |
| 2026-05-21 | THOMAS SCOTT | Tax withheld | 425 | $166.62 |
| 2026-05-21 | Alberty Carl Jackson | Option exercise | 1.1K | — |
| 2026-05-21 | Grode Denise | Option exercise | 925 | — |
| 2026-05-21 | Grode Denise | Tax withheld | 282 | $166.62 |
| 2026-05-21 | Dougherty Justin E | Option exercise | 1.1K | — |
| 2026-05-21 | Dougherty Justin E | Tax withheld | 419 | $166.62 |
| 2026-05-21 | Dougherty Justin E | Sell | 2.0K | $166.50 |
| 2026-05-21 | Forsyth John | Option exercise | 6.2K | — |
| 2026-05-21 | Forsyth John | Tax withheld | 2.4K | $166.62 |
| 2026-05-20 | DAVERN ALEXANDER M | Sell | 1.0K | $159.00 |
| 2026-05-08 | Forsyth John | Sell | 5.0K | $170.41 |
| 2026-04-09 | THOMAS SCOTT | Option exercise | 9.9K | $68.56 |
| 2026-04-09 | THOMAS SCOTT | Sell | 9.9K | $160.11 |
| 2026-03-05 | Woolard Jeffrey | Option exercise | 12K | — |
| 2026-03-05 | Woolard Jeffrey | Tax withheld | 3.9K | $134.28 |
| 2026-02-27 | Alberty Carl Jackson | Option exercise | 1.2K | $78.00 |
| 2026-02-20 | DAVERN ALEXANDER M | Sell | 1.0K | $140.00 |
| 2026-02-13 | THOMAS SCOTT | Option exercise | 3.2K | $54.65 |
| 2026-02-13 | THOMAS SCOTT | Sell | 3.2K | $141.63 |
| 2026-02-11 | Dougherty Justin E | Sell | 3.0K | $143.16 |
| 2026-02-09 | Alberty Carl Jackson | Sell | 3.6K | $142.09 |
| 2026-02-06 | Grode Denise | Tax withheld | 533 | $142.78 |
| 2026-02-06 | Grode Denise | Option exercise | 2.7K | — |
| 2026-02-06 | Grode Denise | Tax withheld | 702 | $142.78 |
| 2026-02-06 | Dougherty Justin E | Option exercise | 2.5K | — |
| 2026-02-06 | Dougherty Justin E | Tax withheld | 597 | $142.78 |
| 2026-02-06 | Dougherty Justin E | Option exercise | 3.0K | — |
| 2026-02-06 | Dougherty Justin E | Tax withheld | 781 | $142.78 |
| 2026-02-06 | Alberty Carl Jackson | Option exercise | 2.5K | — |
| 2026-02-06 | Alberty Carl Jackson | Tax withheld | 597 | $142.78 |
| 2026-02-06 | Alberty Carl Jackson | Option exercise | 3.0K | — |
| 2026-02-06 | Alberty Carl Jackson | Tax withheld | 781 | $142.78 |
| 2026-02-06 | Baumgartner Jeffrey W | Option exercise | 2.5K | — |
| 2026-02-06 | Forsyth John | Tax withheld | 7.3K | $142.78 |
| 2026-02-06 | Baumgartner Jeffrey W | Option exercise | 3.0K | — |
| 2026-02-06 | Baumgartner Jeffrey W | Tax withheld | 781 | $142.78 |
| 2026-02-06 | Brannan Andrew | Option exercise | 2.2K | — |
| 2026-02-06 | Brannan Andrew | Tax withheld | 1.1K | $142.78 |
| 2026-02-06 | Brannan Andrew | Option exercise | 2.7K | — |
| 2026-02-06 | Brannan Andrew | Tax withheld | 1.3K | $142.78 |
| 2026-02-06 | THOMAS SCOTT | Option exercise | 2.5K | — |
| 2026-02-06 | THOMAS SCOTT | Tax withheld | 597 | $142.78 |
| 2026-02-06 | THOMAS SCOTT | Option exercise | 3.0K | — |
| 2026-02-06 | THOMAS SCOTT | Tax withheld | 779 | $142.78 |
| 2026-02-06 | Forsyth John | Option exercise | 17K | — |
| 2026-02-06 | Forsyth John | Tax withheld | 6.8K | $142.78 |
| 2026-02-06 | Forsyth John | Option exercise | 21K | — |
| 2026-02-06 | Baumgartner Jeffrey W | Tax withheld | 597 | $142.78 |
| 2026-02-06 | Grode Denise | Option exercise | 2.2K | — |
| 2026-02-04 | Forsyth John | Sell | 22K | $135.15 |
| 2025-11-14 | Brannan Andrew | Sell | 595 | $117.44 |
| 2025-11-14 | Brannan Andrew | Option exercise | 595 | $68.56 |
| 2025-11-14 | Brannan Andrew | Option exercise | 7.4K | $78.00 |
| 2025-11-14 | Brannan Andrew | Sell | 7.4K | $119.39 |
| 2025-11-14 | Brannan Andrew | Sell | 912 | $117.44 |
| 2025-11-10 | Alberty Carl Jackson | Gift | 500 | — |
| 2025-11-07 | Alberty Carl Jackson | Sell | 1.0K | $116.65 |
| 2025-11-02 | Habermann Ulf | Option exercise | 5.6K | — |
| 2025-11-02 | Habermann Ulf | Tax withheld | 1.4K | $132.65 |
| 2025-10-20 | THOMAS SCOTT | Sell | 734 | $131.25 |
| 2025-10-20 | THOMAS SCOTT | Option exercise | 734 | $31.25 |
| 2025-09-18 | THOMAS SCOTT | Option exercise | 11K | $41.49 |
| 2025-09-18 | THOMAS SCOTT | Sell | 11K | $121.49 |
| 2025-09-17 | Baumgartner Jeffrey W | Sell | 7.3K | $120.00 |
| 2025-09-17 | Baumgartner Jeffrey W | Option exercise | 7.3K | $78.00 |
| 2025-09-17 | Baumgartner Jeffrey W | Option exercise | 1.0K | $88.00 |
| 2025-09-17 | Baumgartner Jeffrey W | Sell | 1.0K | $120.00 |
| 2025-09-17 | Baumgartner Jeffrey W | Option exercise | 854 | $78.00 |
| 2025-09-17 | Baumgartner Jeffrey W | Sell | 854 | $120.00 |
| 2025-09-15 | Grode Denise | Sell | 2.2K | $116.87 |
| 2025-09-02 | Baumgartner Jeffrey W | Option exercise | 10K | $38.34 |
| 2025-09-02 | Baumgartner Jeffrey W | Sell | 10K | $111.78 |
| 2025-08-29 | Grode Denise | Sell | 2.2K | $114.36 |
| 2025-08-12 | Dougherty Justin E | Sell | 1.5K | $108.08 |
| 2025-08-08 | Alberty Carl Jackson | Sell | 2.0K | $100.35 |
| 2025-07-26 | MOSLEY WILLIAM D | Grant | 1.6K | — |
| 2025-07-26 | LE DUY LOAN T | Grant | 1.6K | — |
| 2025-07-26 | DAVERN ALEXANDER M | Grant | 1.6K | — |
| 2025-07-26 | Hussain Muhammad Raghib | Grant | 1.6K | — |
| 2025-07-26 | Lego Catherine P | Grant | 1.6K | — |
| 2025-07-26 | Tupman David J. | Grant | 1.6K | — |
| 2025-06-03 | Baumgartner Jeffrey W | Option exercise | 10K | $38.34 |
| 2025-06-03 | Baumgartner Jeffrey W | Sell | 10K | $100.00 |
| 2025-06-03 | Alberty Carl Jackson | Sell | 2.0K | $100.00 |
| 2025-05-21 | DAVERN ALEXANDER M | Sell | 1.0K | $105.62 |
| 2025-05-09 | Dougherty Justin E | Sell | 3.8K | $100.12 |
| 2025-04-06 | Grode Denise | Tax withheld | 752 | $83.23 |
| 2025-04-06 | Grode Denise | Tax withheld | 1.1K | $83.23 |
| 2025-04-06 | Grode Denise | Option exercise | 2.9K | — |
| 2025-04-06 | Grode Denise | Option exercise | 4.6K | — |
| 2025-03-03 | THOMAS SCOTT | Sell | 3.0K | $103.76 |
| 2025-03-02 | Alberty Carl Jackson | Option exercise | 4.1K | — |
| 2025-03-02 | Alberty Carl Jackson | Tax withheld | 1.0K | $104.21 |
| 2025-03-02 | Alberty Carl Jackson | Option exercise | 3.0K | — |
| 2025-03-02 | Alberty Carl Jackson | Tax withheld | 739 | $104.21 |
| 2025-03-02 | Baumgartner Jeffrey W | Option exercise | 4.3K | — |
| 2025-03-02 | Baumgartner Jeffrey W | Tax withheld | 1.1K | $104.21 |
| 2025-03-02 | Baumgartner Jeffrey W | Option exercise | 3.2K | — |
| 2025-03-02 | Brannan Andrew | Option exercise | 3.8K | — |
| 2025-03-02 | Brannan Andrew | Tax withheld | 1.9K | $104.21 |
| 2025-03-02 | Brannan Andrew | Option exercise | 2.8K | — |
| 2025-03-02 | Brannan Andrew | Tax withheld | 1.4K | $104.21 |
| 2025-03-02 | Dougherty Justin E | Option exercise | 4.1K | — |
| 2025-03-02 | Dougherty Justin E | Tax withheld | 1.0K | $104.21 |
| 2025-03-02 | Dougherty Justin E | Option exercise | 3.0K | — |
| 2025-03-02 | Dougherty Justin E | Tax withheld | 739 | $104.21 |
| 2025-03-02 | THOMAS SCOTT | Option exercise | 4.1K | — |
| 2025-03-02 | THOMAS SCOTT | Tax withheld | 1.0K | $104.21 |
| 2025-03-02 | THOMAS SCOTT | Option exercise | 3.0K | — |
| 2025-03-02 | THOMAS SCOTT | Tax withheld | 739 | $104.21 |
| 2025-03-02 | Baumgartner Jeffrey W | Tax withheld | 785 | $104.21 |
| 2025-03-02 | Forsyth John | Option exercise | 23K | — |
| 2025-03-02 | Forsyth John | Tax withheld | 7.6K | $104.21 |
| 2025-03-02 | Forsyth John | Option exercise | 17K | — |
| 2025-03-02 | Forsyth John | Tax withheld | 6.7K | $104.21 |
| 2025-02-03 | Baumgartner Jeffrey W | Sell | 2.1K | $100.00 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- Apple Inc. 91% of rev
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-06 | Material agreementResultsDebt obligationReg FDExhibits | filing ↗ |
| 2026-03-31 | Exec/director change | filing ↗ |
| 2026-02-03 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-04 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-05 | ResultsReg FDExhibits | filing ↗ |
| 2025-07-30 | Shareholder vote | filing ↗ |
| 2025-05-06 | ResultsReg FDOther | filing ↗ |
| 2025-02-04 | ResultsExec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-05-21 | 2026-03-28 | 0000772406-26-000018 ↗ |
| 8-K | 2026-05-06 | 2026-05-04 | 0000772406-26-000012 ↗ |
| 8-K | 2026-03-31 | 2026-03-25 | 0000772406-26-000009 ↗ |
| 10-Q | 2026-02-03 | 2025-12-27 | 0000772406-26-000006 ↗ |
| 8-K | 2026-02-03 | 2026-02-03 | 0000772406-26-000004 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0000772406-25-000040 ↗ |
| 10-Q | 2025-11-04 | 2025-09-27 | 0000772406-25-000041 ↗ |
| 10-Q | 2025-08-05 | 2025-06-28 | 0000772406-25-000034 ↗ |
| 8-K | 2025-08-05 | 2025-08-05 | 0000772406-25-000033 ↗ |
| 8-K | 2025-07-30 | 2025-07-29 | 0000772406-25-000027 ↗ |
| 10-K | 2025-05-23 | 2025-03-29 | 0000772406-25-000014 ↗ |
| 8-K | 2025-05-06 | 2025-05-06 | 0000772406-25-000010 ↗ |