Stifel Nicolaus Thinks Cirrus Logic’s Stock is Going to Recover

By Carrie Williams

In a report released today, Tore Svanberg from Stifel Nicolaus reiterated a Buy rating on Cirrus Logic (NASDAQ: CRUS), with a price target of $75. The company’s shares closed yesterday at $52.28, close to its 52-week low of $48.61.

According to TipRanks.com, Svanberg is a top 100 analyst with an average return of 19.8% and a 76.3% success rate. Svanberg covers the Consumer Goods sector, focusing on stocks such as O2Micro International, Silicon Laboratories, and M/A-Com Technology.

Cirrus Logic has an analyst consensus of Moderate Buy, with a price target consensus of $69.40.

Based on Cirrus Logic’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $426 million and quarterly net profit of $73.3 million. In comparison, last year the company earned revenue of $429 million and had a net profit of $78.07 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 company delivers optimized products for a variety of audio, industrial and energy-related applications.