Fifth Third Bancorp Sells 2,396 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Fifth Third Bancorp decreased its stake in Cirrus Logic, Inc. by 12.7%, selling 2,396 shares for a total worth of approximately $1.72 million at the end of Q2.
• Insiders at Cirrus Logic, including EVP Denise Grode and Scott Thomas, sold a combined total of 13,291 shares in September, reflecting significant reductions in their ownership percentages.
• Cirrus Logic reported better-than-expected earnings in its latest quarterly results, with EPS of $1.51, exceeding forecasts of $1.07, leading to upgraded price targets from analysts.

Fifth Third Bancorp cut its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 12.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,477 shares of the semiconductor company's stock after selling 2,396 shares during the quarter. Fifth Third Bancorp's holdings in Cirrus Logic were worth $1,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Cirrus Logic in the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. grew its holdings in Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 232 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Cirrus Logic during the first quarter worth $50,000. UMB Bank n.a. lifted its holdings in shares of Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 290 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Cirrus Logic in the 2nd quarter worth $93,000. 87.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Denise Grode sold 2,202 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $116.87, for a total transaction of $257,347.74. Following the sale, the executive vice president directly owned 5,698 shares of the company's stock, valued at $665,925.26. This represents a 27.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Thomas sold 11,089 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $121.49, for a total value of $1,347,202.61. Following the sale, the executive vice president owned 26,307 shares in the company, valued at $3,196,037.43. This trade represents a 29.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,453 shares of company stock worth $3,821,790. Company insiders own 1.16% of the company's stock.

Analysts Set New Price Targets

CRUS has been the topic of several recent analyst reports. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cirrus Logic presently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Cirrus Logic Trading Up 0.4%

Shares of CRUS stock opened at $126.14 on Friday. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $129.07. The stock has a market cap of $6.47 billion, a P/E ratio of 19.74 and a beta of 1.02. The stock has a 50 day moving average of $112.37 and a 200 day moving average of $103.78.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.44. Cirrus Logic had a net margin of 18.15% and a return on equity of 18.38%. The business had revenue of $407.27 million for the quarter, compared to analysts' expectations of $361.97 million. During the same quarter last year, the company earned $1.12 EPS. The business's revenue was up 8.9% on a year-over-year basis. Cirrus Logic has set its Q2 2026 guidance at EPS. On average, research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.

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