Cirrus Logic, Inc. (CRUS): Notes From Investor Call - Needham

Needham & Company analyst, Rajvindra Gill, reiterated his Buy rating on shares of Cirrus Logic (NASDAQ: CRUS) after hosting an investor call Carl Alberty, VP of Marketing, and Chelsea Heffernan, Director of IR. The analyst believes "this year, revenue should primarily be driven by
the Apple iPhone 8 cycle" and he expects revenue growth to accelerate next year due to digital and ANC headsets.

The analyst believes he has greater insight into the long-term secular trend of analog-to-digital headsets and ultimately adaptive noise cancellation (ANC) as well as the company’s go-to-market strategy. He expects demand for digital headsets to meaningfully inflect in terms of units in CY18 as CRUS lowers the power consumption on the USB-C standard and the handset OEMs figure out their product and marketing strategy.

No change to the price target of $70.

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 $55.37 yesterday.

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