Susquehanna analyst Christopher Rolland has reiterated their bullish stance on CRUS stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Christopher Rolland has given his Buy rating due to a combination of factors that highlight Cirrus Logic’s strong performance and future potential. The company reported better-than-expected results, primarily driven by increased smartphone volumes, particularly from its largest customer. This growth is expected to continue as Cirrus Logic anticipates returning to its historical seasonality patterns in the upcoming quarters, despite previous concerns about shifts in demand due to tariff-related pull-ins.
Additionally, Cirrus Logic is making significant strides in diversifying its product offerings and expanding into new markets. The company has secured its first mainstream consumer laptop design, with revenues anticipated in the coming years, and is exploring new products for AI PCs. Moreover, Cirrus Logic’s efforts in the prosumer and automotive markets, along with its ongoing investments in R&D for power and battery solutions, position it well for future growth. These strategic moves, coupled with a favorable product mix, contribute to Rolland’s positive outlook and Buy rating for the stock.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $150.00 price target.
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.