In a report released today, David Williams from Benchmark Co. maintained a Buy rating on Cirrus Logic (CRUS – Research Report), with a price target of $125.00.
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David Williams’s rating is based on Cirrus Logic’s strong financial performance and promising growth prospects. The company reported impressive revenue and earnings for the March quarter, driven by robust smartphone sales and an improved mix of components. Despite potential indirect impacts from Apple, Cirrus Logic’s diverse supply chain mitigates direct exposure, with end demand being the primary risk factor.
Additionally, Cirrus Logic is expanding its presence in the laptop market, with new components expected to significantly contribute to revenue in the coming years. The company is also making strides in automotive and professional audio markets, with new products poised to drive long-term growth. These factors, along with a favorable EPS forecast, underpin Williams’s Buy rating and the $125 price target.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $120.00 price target.