Cirrus Logic (CRUS) Receives a Buy from KeyBanc

KeyBanc analyst John Vinh maintained a Buy rating on Cirrus Logic (CRUSResearch Report) yesterday and set a price target of $120.00. The company’s shares closed last Tuesday at $92.81.

According to TipRanks.com, Vinh is a 5-star analyst with an average return of 20.1% and a 66.5% success rate. Vinh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and Silicon Laboratories.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cirrus Logic with a $111.40 average price target.

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Based on Cirrus Logic’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $466 million and net profit of $85.1 million. In comparison, last year the company earned revenue of $347 million and had a net profit of $59.49 million.

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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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