Cirrus Logic, Inc. (CRUS) Stock Analysis
Technology · Semiconductors
Sell if holding. At $167.02, A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (91.0%); Concentration risk — Customer: top ten end customers (96.0%).
Cirrus Logic develops low-power, high-precision mixed-signal semiconductors — Audio products (amplifiers, codecs, DSPs) and HPMS products (camera controllers, haptics, battery ICs) — almost entirely for smartphones. Apple Inc. accounted for approximately 91% of the company's net... Read more
Sell if holding. At $167.02, A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (91.0%); Concentration risk — Customer: top ten end customers (96.0%). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.8/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 50d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Cirrus Logic, Inc.
About Cirrus Logic, Inc.
Apple Inc. represented approximately 91% of Cirrus Logic's total net sales for the twelve months ended March 28, 2026, rising from 89% in fiscal 2025 and 87% in fiscal 2024, while the ten largest end customers collectively accounted for 96% of net sales. Cirrus Logic had 1,668 employees at March 28, 2026, with 71% engaged in research and product development. The company operates as a fabless semiconductor supplier with primary wafer fabrication from GlobalFoundries and TSMC.
Cirrus Logic earns revenue through direct and indirect sales of Audio products and HPMS products — both lines targeting smartphone applications, with design wins dependent on deep engineering relationships at the customer's product-team level. The company contracts wafer fabrication to third parties, primarily GlobalFoundries (under a Capacity Reservation and Wafer Supply Commitment Agreement through calendar year 2026, amended in February 2025 to define remaining quarterly wafer quantities) and TSMC; assembly and test is performed by Advanced Semiconductor Engineering, Amkor Technology, and STATS ChipPAC, among others. The 10-K discloses that the company does not typically manufacture the majority of individual products at more than one foundry, making transfer to a backup supplier costly and time-consuming. Named competitors include Analog Devices, QUALCOMM, Realtek Semiconductor, Skyworks Solutions, and Texas Instruments.
Show full overview
The 91% Apple concentration is the defining structural feature of Cirrus Logic's revenue base: Apple may stop incorporating Cirrus Logic products with limited notice and no significant penalty, minimum purchase volumes are not contractually required, and Apple retains in-house capability to develop competing semiconductor components. The 10-K also discloses that many products are architecturally specific to Apple's system design and frequently cannot be sold to other customers, concentrating customer and product-level risk simultaneously. The GlobalFoundries capacity agreement expires at end of calendar 2026, with post-2026 wafer supply terms subject to renegotiation.
See also: Technology · Semiconductors
From Cirrus Logic, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-06-15Recent Developments — Cirrus Logic, Inc.
Latest news
- NEWS Cirrus Logic, Inc. (CRUS) hit a 52 week high, can the run continue? - MSN — MSN positive
- NEWS Cirrus Logic (NASDAQ:CRUS) Sets New 1-Year High - Time to Buy? - MarketBeat — MarketBeat positive
- NEWS Extra! Extra! Read All About It: Cirrus Logic's Largest Customer Just Tagged It - Seeking Alpha — Seeking Alpha negative
- NEWS Extra! Extra! Read All About It: Cirrus Logic Stock's Largest Customer Tagged It (CRUS) - Seeking Alpha — Seeking Alpha negative
- NEWS Earnings call transcript: Cirrus Logic beats Q4 2026 EPS forecast, stock rises By Investing.com - Investing.com India — Investing.com India positive
Generated 2026-06-15T18:11:46Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHCustomerApple Inc.91%10-K Item 1A: 'one end customer, Apple Inc., who purchased through multiple contract manufacturers and represented approximately 91 percent...of the Company's total net sales'
- HIGHCustomertop ten end customers96%10-K Item 1A: 'our ten largest end customers represented approximately 96 percent, 96 percent and 95 percent of our net sales, respectively'
Material Events(8-K, last 90d)
- 2026-03-31Item 5.02LOWEffective March 25, 2026, CFO Jeff Woolard assumed the additional role of Principal Accounting Officer. Ulf Habermann ceased as PAO but continues in a senior finance role. No disagreement with the Company on any matter cited.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
10 dimensions · all in-band
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $167.02, A.R:R is negative (-0.6) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Customer: Apple Inc. (91.0%); Concentration risk — Customer: top ten end customers (96.0%). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $155.26. Score 5.8/10, moderate confidence.
Take-profit target: $176.81 (+5.9% upside). Prior stop was $155.26. Stop-loss: $155.26.
Concentration risk — Customer: Apple Inc. (91.0%); Concentration risk — Customer: top ten end customers (96.0%); Analyst target reached - limited upside remaining.
Cirrus Logic, Inc. trades at a P/E of 20.9 (forward 17.5). TrendMatrix value score: 6.0/10. Verdict: Sell.
13 analysts cover CRUS with a consensus score of 4.0/5. Average price target: $181.
What does Cirrus Logic, Inc. do?Cirrus Logic develops low-power, high-precision mixed-signal semiconductors — Audio products (amplifiers, codecs, DSPs)...
Cirrus Logic develops low-power, high-precision mixed-signal semiconductors — Audio products (amplifiers, codecs, DSPs) and HPMS products (camera controllers, haptics, battery ICs) — almost entirely for smartphones. Apple Inc. accounted for approximately 91% of the company's net sales in fiscal year 2026; Cirrus Logic is headquartered in Austin, Texas and had 1,668 employees as of March 28, 2026.