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In a report released today, Ruben Roy from MKM Partners reiterated a Buy rating on Cirrus Logic (NASDAQ: CRUS), with a price target of $45. The company’s shares opened today at $39.08, close to its 52-week low of $34.78.
Roy wrote:
“We reiterate our Buy rating on CRUS following investor meetings earlier this week with Alberty, VP of Buell, IR. While CRUS is facing a challenging near- term environment, we believe that with estimates reset and a number of medium-term (boosted amplifiers, digital headsets, voice activation in mid-tier handsets) and longer-term (voice biometrics) growth drivers in the pipeline, CRUS shares should be considered by value oriented investors. Boosted amplifiers provide content and market share growth opportunities – expected to be largest growth opportunity over next three years.”
According to TipRanks.com, Roy is a 4-star analyst with an average return of 12.1% and a 65.5% success rate. Roy covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and Maxim Integrated.
Currently, the analyst consensus on Cirrus Logic is Moderate Buy and the average price target is $43.40, representing an 11.1% upside.
In a report issued on May 3, Susquehanna also maintained a Buy rating on the stock with a $45 price target.
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The company has a one-year high of $71.97 and a one-year low of $34.78. Currently, Cirrus Logic has an average volume of 1.3M.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRUS in relation to earlier this year. Most recently, in March 2018, Bradley Fluke, the VP & GM, MEMS Division of CRUS bought 2,408 shares for a total of $57,310.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
