Cirrus Logic's stock dropped due to mixed news, but savvy investors should discern between real and misleading reports, presenting a buying opportunity. Despite Barclays' downgrade, Cirrus has strong future prospects with potential earnings growth from new iPhone components and smart power conversion. Cirrus' earnings could grow towards $11 per share, making the stock extremely cheap with a P/E under 10 and a price target of $120.
Here is how Cirrus Logic (CRUS) and Itron (ITRI) have performed compared to their sector so far this year.
CRUS??? performance benefits from the increasing demand for its solutions. However, a weak macro backdrop, volatile FX and higher costs are concerns.
Cirrus Logic (CRUS) reported earnings 30 days ago. What's next for the stock?
Cirrus Logic recently delivered stronger-than-expected results, a trend that's likely to continue. The company is expected to win more business from its largest customer, which is all set to dive into the AI smartphone market next month.
Cirrus Logic's (CRUS) performance benefits from the increasing adoption of its existing portfolio and new product launches.
Review Cirrus Logic's (CRUS) international revenue performance and how it affects the predictions of financial analysts on Wall Street and the future prospects for the stock.
Semiconductor stocks finished the last big week of Q2 earnings season with a mixed bag of winners and losers. Cirrus Logic was among the winners.
Cirrus Logic's (CRUS) fiscal first-quarter performance benefits from robust sales of Audio and High-performance mixed-signal products.
Cirrus Logic (CRUS) came out with quarterly earnings of $1.12 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.67 per share a year ago.
Semiconductor providers like TSM, PI, CRUS and MU are riding on strong year-over-year sales growth, driven by strong demand for semiconductor components.
A Keybanc analyst lifted his price target on Cirrus. The analyst is bullish on other AI and server stocks, as well, based on recent channel checks.