Northland Capital Markets upgraded Cirrus Logic (NASDAQ: CRUS) from Market Perform to Outperform with a price target of $27.00 (from $22.00).

Analyst Tom Sepenzis comments, "We are raising our Rating from Market Perform to Outperform and our target price from $22.00 to $27.00 after a strong quarter by the audio component maker. While CRUS still suffers from concentration issues we believe it is pretty firmly entrenched, and is now making small gains outside of its largest customer."

The firm raised FY 2014 EPS from $1.63 to $1.78.

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 $20.63 yesterday.