Stifel Nicolaus analyst Tore Svanberg maintained a Buy rating on Cirrus Logic (CRUS – Research Report) yesterday and set a price target of $110.00. The company’s shares closed yesterday at $102.24.
Svanberg covers the Technology sector, focusing on stocks such as Marvell, ON Semiconductor, and Microchip. According to TipRanks, Svanberg has an average return of 16.5% and a 63.18% success rate on recommended stocks.
In addition to Stifel Nicolaus, Cirrus Logic also received a Buy from Barclays’s Thomas O’Malley in a report issued yesterday. However, on the same day, KeyBanc maintained a Hold rating on Cirrus Logic (NASDAQ: CRUS).
Based on Cirrus Logic’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $618.98 million and a net profit of $138.72 million. In comparison, last year the company earned a revenue of $590.58 million and had a net profit of $103.48 million
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRUS in relation to earlier this year.
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Cirrus Logic (CRUS) Company Description:
Cirrus Logic, Inc. develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products. The company was founded by Suhas S. Patil and Michael L. Hackworth in 1984 and is headquartered in Austin, TX.
