Market Overview

UPDATE: Stifel Nicolaus Raises PT to $56 on Cirrus Logic on Higher Guidance

Share:
Related CRUS
Skyworks, Qorvo, NXP Semiconductors Earnings Could Signal Apple Rebound
How Apple Could Affect These 2 Tech Stocks
Atmel Misses Q2 Earnings, Revenues on Weak Global Cues - Analyst Blog (Zacks)

Stifel Nicolaus reiterated its Buy rating on Cirrus Logic (NASDAQ: CRUS) and raised its price target from $54 to $56.

Stifel Nicolaus commented, "In terms of guidance, the company expects December quarter revenue of $270mn-$300mn (up 39.3% to 54.8% q/q), mid-point of $285mn, well above our recently revised and street-high estimate of $250.0mn and Street consensus of $237.7mn. Cirrus also indicated that it expects the March quarter to be down ~15% q/q, which implies revenue of $242.3mn, well above our prior estimate of $200mn and the Street consensus of $195.3mn. Additionally, GMs are now expected to remain in the low 50% range for the foreseeable future."

Cirrus Logic closed at $40.78 on Wednesday.

Latest Ratings for CRUS

DateFirmActionFromTo
Jul 2015Stifel NicolausUpgradesHoldBuy
May 2015BarclaysMaintainsOverweight
Apr 2015Northland SecuritiesMaintainsOutperform

View More Analyst Ratings for CRUS
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (CRUS)

Get Benzinga's Newsletters