Cirrus Logic Reports Q3 Revenue of $347.9 Million
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January 28, 2016 10:37 AM EST
Cirrus Logic, Inc. (NASDAQ: CRUS) is seeing notable strength following earnings after the close. Shares are up 15.6%. Short covering could be contributing.
Cirrus reported Q3 EPS of $0.82, $0.01 better than the analyst estimate of $0.81. Revenue for the quarter came in at $347.9 million versus the... More
January 28, 2016 7:39 AM EST
(Updated - January 28, 2016 11:53 AM EST)
Oppenheimer upgraded Apple supplier Cirrus Logic (NASDAQ: CRUS) from Perform to Outperform with a price target of $40. The change follows the release of Q3 results. Analyst Rick Schafer said Cirrus was too compelling to ignore, and he thinks investors should buy weakness. He also expects content gains in the upcoming iPhone 7.
"Shares have lagged recently on well-known negative AAPL IP6s unit... More
