Stifel Reiterates Buy Rating on Cirrus Logic (CRUS)

Stifel analyst Tore Svanberg reiterated a Buy rating and $120.00 price target on Cirrus Logic (NASDAQ: CRUS).

The analyst commented, "Solid F1Q26 (Jun) beat, with revenue of $407.3mn (-4.0% q/q) coming in +13.1% higher than our $360.0mn estimate, with upside due to stronger than-expected smartphone unit volumes.Raised F2Q26E (Sep) revenue outlook, with a $540.0mn revenue midpoint (+32.6% q/q) +11.9% higher than our $482.4mn estimate. That said, management noted the strong F1Q26A print and subsequent F2Q26E guide suggests revenue will be more weighted to the 1H of the year, as CRUS’ unit and revenue forecasts for the full fiscal year have remained relatively unchanged from previous expectations. As such, we believe the outlook contemplates demand pull-ins, in addition to a healthy degree of conservatism given the uncertain macro environment.Nevertheless, we believe CRUS continues to build secular momentum across multiple product lines while maintaining a strong balance sheet to support growth initiatives ($15.90 net cash/share). Reiterate Buy and 12-month TP of $120, representing a 14.7x CY26E P/E multiple (ex-cash)."

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 $104.97 yesterday.

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