Fifth Third Bancorp Sells 5,653 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Fifth Third Bancorp trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 21.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,230 shares of the semiconductor company’s stock after selling 5,653 shares during the period. Fifth Third Bancorp’s holdings in Cirrus Logic were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after acquiring an additional 50,582 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after acquiring an additional 215,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after purchasing an additional 69,006 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Down 2.0 %

Shares of CRUS opened at $99.42 on Tuesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.85 and a beta of 0.92. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The stock’s 50-day moving average price is $102.93 and its 200-day moving average price is $117.85.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter last year, the company earned $1.43 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Ratings Changes

CRUS has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Loop Capital initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.50.

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.