Fifth Third Bancorp Acquires 12,958 Shares of Cirrus Logic, Inc. $CRUS

Fifth Third Bancorp grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 89.3% during the 1st quarter, HoldingsChannel reports. The fund owned 27,461 shares of the semiconductor company’s stock after acquiring an additional 12,958 shares during the quarter. Fifth Third Bancorp’s holdings in Cirrus Logic were worth $3,971,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $33,000. Torren Management LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $35,000. Kestra Advisory Services LLC purchased a new position in shares of Cirrus Logic in the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.7%

Shares of Cirrus Logic stock opened at $137.98 on Friday. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42. The company has a market cap of $6.96 billion, a P/E ratio of 17.60 and a beta of 1.17. The company’s fifty day simple moving average is $159.34 and its two-hundred day simple moving average is $147.80.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same period last year, the company posted $1.67 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Cirrus Logic, Inc. will post 7.86 EPS for the current fiscal year.

Key Cirrus Logic News

Here are the key news stories impacting Cirrus Logic this week:

• Positive Sentiment: Zacks said Cirrus Logic has an impressive earnings surprise track record and appears positioned for another potential earnings beat, which could lift sentiment ahead of the next report. Article Title
• Positive Sentiment: KeyCorp kept an Overweight rating on Cirrus Logic and a $190 price target, signaling continued analyst confidence in the stock’s upside.
• Positive Sentiment: KeyCorp raised its Q1 2027 EPS estimate to $1.45 from $0.72, suggesting a stronger start to that fiscal year than previously expected.
• Neutral Sentiment: KeyCorp also updated a series of forward estimates for Cirrus Logic, leaving FY2028 EPS at $7.61 and FY2027 at $7.31, which provides more detail on the company’s long-term earnings path but is not clearly a near-term catalyst.
• Negative Sentiment: KeyCorp lowered several other period estimates, including Q2 2027, Q3 2027, Q4 2027, and FY2027 EPS, which may temper enthusiasm around the durability of earnings growth.
• Negative Sentiment: A Seeking Alpha piece titled Cirrus Logic’s Price Correction points to recent weakness or valuation pressure, which may have contributed to some caution around the shares. Article Title

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the completion of the transaction, the executive vice president owned 17,575 shares in the company, valued at $2,962,090.50. This trade represents a 18.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the sale, the executive vice president owned 7,203 shares in the company, valued at $1,042,346.13. This represents a 47.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 22,299 shares of company stock worth $3,581,647. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRUS shares. Barclays lifted their price target on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Finally, KeyCorp reduced their price target on Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.29.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.