A number of firms have modified their ratings and price targets on shares of Cirrus Logic (NASDAQ: CRUS) recently:

  • Cirrus Logic had its “buy” rating reaffirmed by analysts at Needham & Company. They now have a $47.00 price target on the stock.
  • Cirrus Logic had its price target raised by analysts at Stifel Nicolaus from $45.00 to $50.00. They now have a “buy” rating on the stock.
  • Cirrus Logic had its price target raised by analysts at Canaccord Genuity from $43.00 to $48.00. They now have a “buy” rating on the stock. They wrote, “We reiterate a BUY rating on shares of CRUS based on likely upside to estimates on a strong product cycle with Apple. In our view, inventory build in the present quarter indicates revenue growth well above the consensus view for CQ4 while dollar content assumptions could prove to be conservative, both of which could drive a substantial increase to our C2013 EPS estimate of $3.27. We expect multiple expansion into earnings season and raise our price target to $48 from $43.”
  • Cirrus Logic had its price target raised by analysts at Feltl & Co. from $46.00 to $54.00. They now have a “buy” rating on the stock.
  • Cirrus Logic had its price target raised by analysts at Needham & Company from $47.00 to $53.00. They now have a “buy” rating on the stock.
  • Cirrus Logic ‘s EPS estimates were raised by analysts at Sterne Agee. They now have a “buy” rating and a $55.00 price target on the stock.

Shares of Cirrus Logic, Inc. traded down 1.07% during mid-day trading on Thursday, hitting $43.43. Cirrus Logic, Inc. has a 52 week low of $13.40 and a 52 week high of $45.49. The company has a market cap of $2.805 billion and a P/E ratio of 34.70.

Cirrus Logic, Inc. (Cirrus Logic) develops analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets.