Cirrus Logic, Inc. (CRUS) Tops Q3 EPS by 1c, Q4 Guidance Falls Short

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Go back to Cirrus Logic, Inc. (CRUS) Tops Q3 EPS by 1c, Q4 Guidance Falls Short

Cirrus Logic, Inc. (CRUS) Sees Strong Move on EPS

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

UPDATE: Cirrus Logic (CRUS) Weakness Seen as Opportunity at Oppenheimer; Stock Upgraded to Outperform

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