Cirrus Logic (CRUS) PT Lowered to $160 at Stifel

Stifel analyst Tore Svanberg lowered the price target on Cirrus Logic (NASDAQ: CRUS) to $160.00 (from $197.00) while maintaining a Buy rating.

The analyst comments "• Slight F1Q27 (Jun) miss, with revenue of $459.7mn (+2.5% q/q) coming in -0.1% below our $460.0mn estimate. • F2Q27E (Sep) revenue guided down, with the $540.0mn revenue midpoint (+17.5% q/q) coming in -6.1% below our prior $575.0mn estimate. • Management continued to emphasize tighter seasonality in FY27, which we believe contributed to the slight miss and guide down. Cirrus’s largest customer is facing supply-side pressures that also could be impacting the forward outlook. Cirrus remains well-positioned to continue capturing content at the customer over a multi-year time period. HPMS product pipeline is robust, though high-end PC delays reduced Cirrus’s prior outlook for the PC end market. • Reiterate Buy, but lower our 12-month TP to $160 (from $197), representing a 15.2x CY27E P/E multiple (ex-cash)."

You May Also Be Interested In

• Freedom Broker Downgrades Flexsteel (FLXS) to Hold
• Marvell (MRVL) PT Raised to $225 at TD Cowen
• Grocery Outlet Holding (GO) PT Raised to $12 at TD Cowen