Cirrus Logic: Oppenheimer Reiterates Buy, Raises Estimates
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Price: $86.29 +2.42%
Rating Summary:
15 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
15 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Today Oppenheimer reiterated its BUY rating on Cirrus Logic (NASDAQ: CRUS) and raised its price target $2 from $28 to $30.
Although revenue fell short of consensus estimates last quarter, management expects higher levels in the 2nd quarter as Apple timing issues smooth out. Cirrus is expected to continue to benefit from Apple success.
Cirrus Logic trades at a 12x multiple of 2013 estimated EPS, which is a discount to its peers, who trade at 14x multiple.
Near term, Oppenheimer analysts feel “CRUS offers investors some of the best growth/upside potential in the group on the back of AAPL unit/content growth.”
Oppenheimer has an OUTPERFORM rating on Cirrus Logic (NASDAQ: CRUS).
For an analyst ratings summary and ratings history on Cirrus Logic click here. For more ratings news on Cirrus Logic click here.
Shares of Cirrus Logic closed at $23.09 yesterday.
Although revenue fell short of consensus estimates last quarter, management expects higher levels in the 2nd quarter as Apple timing issues smooth out. Cirrus is expected to continue to benefit from Apple success.
Cirrus Logic trades at a 12x multiple of 2013 estimated EPS, which is a discount to its peers, who trade at 14x multiple.
Near term, Oppenheimer analysts feel “CRUS offers investors some of the best growth/upside potential in the group on the back of AAPL unit/content growth.”
Oppenheimer has an OUTPERFORM rating on Cirrus Logic (NASDAQ: CRUS).
For an analyst ratings summary and ratings history on Cirrus Logic click here. For more ratings news on Cirrus Logic click here.
Shares of Cirrus Logic closed at $23.09 yesterday.
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