Cirrus Logic Doesn’t Offer Investors Meaningful Upside, Says Feltl

In a research report issued today, Feltl and Company analyst Jeffrey Schreiner reiterated a Hold rating on Cirrus Logic (NASDAQ:CRUS) and raised his price target to $24 (from $21), which represents a slight upside potential from current levels.

Schreiner commented: “After slightly raising our FY16 estimates, and our price target, we don’t believe CRUS offers investors meaningful upside from current levels. It is our belief legacy hurdles exist for flagship S6 design win, and estimated content gains may likely be reflected. We continue to expect March revenues will be down seasonally roughly 30%+, in-line with historical trends.”

The analyst continued, “While we see longer-term value in CRUS’s new products, we recommend investors wait for potential pullbacks in shares as we believe current valuation may reflect a large portion of upside opportunity. Our new PT$24 is part multiple expansion, and slightly higher CY15 estimates.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jeffrey Schreiner has a total average return of -9.2% and a 29.1% success rate. Schreiner has a -13.1% average return when recommending CRUS, and is ranked #3270 out of 3412 analysts.

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