In a report released yesterday, Karl Ackerman from Cowen & Co. reiterated a Hold rating on Cirrus Logic (CRUS), with a price target of $42. The company’s shares closed yesterday at $38.56.
According to TipRanks.com, Ackerman has 0 stars on 0-5 star ranking scale with an average return of -6.0% and a 27.3% success rate. Ackerman covers the Consumer Goods sector, focusing on stocks such as Integrated Device Tech, Ultra Clean Holdings, and Skyworks Solutions.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cirrus Logic with a $41.50 average price target, a 7.6% upside from current levels. In a report issued on November 21, Needham also maintained a Hold rating on the stock.
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Based on Cirrus Logic’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $58.17 million. In comparison, last year the company had a net profit of $73.3 million.
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Cirrus Logic, Inc. develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The company delivers optimized products for a variety of audio, industrial and energy-related applications.
