Cirrus Logic (CRUS) : 9 analysts are covering Cirrus Logic (CRUS) and their average rating on the stock is 1.67, which is read as a Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Cirrus Logic (CRUS) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Cirrus Logic (CRUS) stock is expected to deviate a maximum of $7.26 from the average target price of $50.88 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $58 and the most muted being $38.
Also, Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of Cirrus Logic (NASDAQ:CRUS). Barclays has a Equalweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $38 per share from a prior target of $35. The rating by the firm was issued on July 28, 2016.
Cirrus Logic (NASDAQ:CRUS): After opening at $51.58, the stock dipped to an intraday low of $51.22 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $55.24 and the buying power remained strong till the end. The stock closed at $55.17 for the day, a gain of 7.56% for the day session. The total traded volume was 2,873,503. The stocks close on the previous trading day was $51.29.
Cirrus Logic, Inc. (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States, Europe and Asia, including the Peoples Republic of China, Hong Kong, South Korea, Japan, Singapore, Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control, energy measurement, LED lighting and energy exploration applications.