In a report issued on March 7, Christopher Rolland from Susquehanna reiterated a Buy rating on Cirrus Logic (CRUS – Research Report), with a price target of $115.00. The company’s shares closed last Tuesday at $82.30.
According to TipRanks.com, Rolland is a top 25 analyst with an average return of 25.9% and a 74.3% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and NXP Semiconductors.
Currently, the analyst consensus on Cirrus Logic is a Moderate Buy with an average price target of $106.78.
Based on Cirrus Logic’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $548 million and net profit of $128 million. In comparison, last year the company earned revenue of $486 million and had a net profit of $114 million.
Based on the recent corporate insider activity of 36 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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