Cirrus Logic Given “Buy” Rating at Sterne Agee (CRUS)
Cirrus Logic (NASDAQ: CRUS)‘s stock had its “buy” rating reiterated by equities research analysts at Sterne Agee in a research note issued to investors on Friday. They currently have a $34.00 price target on the stock, down from their previous price target of $42.00.
The analysts wrote, “We are lowering our revenue and EPS estimates to reflect weaker than expected unit demand from the company’s largest customer. As a result, we are lowering our fully taxed, CY14 EPS estimate from $3.62 to $3.43. Based on our new estimates, we are lowering our target price to $34, which is 10X our CY14 EPS. Maintain Buy.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Cirrus Logic in a research note to investors on Wednesday. They now have a $42.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Cirrus Logic in a research note to investors on Friday, March 1st. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Cirrus Logic in a research note to investors on Monday, February 4th.
Six investment analysts have rated the stock with a buy rating, and three have issued a hold rating to the company. The stock presently has a consensus rating of “overweight” and an average target price of $41.00.
Shares of Cirrus Logic (NASDAQ: CRUS) traded down 0.76% during mid-day trading on Friday, hitting $23.43. Cirrus Logic has a one year low of $20.28 and a one year high of $45.49. The stock’s 50-day moving average is currently $25.88. The company has a market cap of $1.508 billion and a P/E ratio of 10.09.
Cirrus Logic (NASDAQ: CRUS) last posted its quarterly earnings results on Thursday, January 24th. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.22. The company had revenue of $310.00 million for the quarter, compared to the consensus estimate of $284.96 million. During the same quarter last year, the company posted $0.43 earnings per share. Cirrus Logic’s revenue was up 153.3% compared to the same quarter last year. Analysts expect that Cirrus Logic will post $3.55 EPS for the current fiscal year.
Cirrus Logic, Inc. is a United States-based company, which supplies high-precision analog and digital signal processing components for audio and energy markets.
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