Cirrus Logic, Inc. (NASDAQ:CRUS) a Buy: Piper Jaffray

In a research note issued to investors, Ruben Roy at Piper Jaffray Reiterated their Buy rating on Cirrus Logic, Inc. (NASDAQ:CRUS). The analyst placed a $44.00 price target on the stock which indicates a 18.92% upside to the last closing price. In the year following Ruben’s ratings, the stocks covered yield an average return of 12.2% according to In the past year 43 out of 71 recommendations or 61% were successful.

In looking at the consensus numbers, the sell-side analysts covering the stock have a mean target price of $41.666 for Cirrus Logic, Inc. (NASDAQ:CRUS). This number is the mean estimate from the 3 research brokerages that recently issued reports on the firm.

According to Wall Street, Cirrus Logic, Inc. (NASDAQ:CRUS) is expected to report earnings per share for the current fiscal quarter of $0.38. This is the consensus mean estimate based on the individual covering sell-side analysts’ reported numbers. The company last reported earnings for the period ending on 2015-03-31 of $0.58.

The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. On a scale of 1 to 5 where 1 represents a Strong Buy and 5 represents a Strong Sell, has the equity is ranked 2 based on 3 broker recommendations. Of the 3 analyst estimates, the most bullish sees the stock reaching $44 within the next 12 months while the most bearish analyst sees the stock at $37 within the year.

Taking a look at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $2.06. The high end estimate for this time frame is $2.32 with the low being $1.77. In looking at the next three to five years, the long term earnings per share estimate growth rate for the company is 10.55%, based on 2 analysts providing projections.

Cirrus Logic, Inc. (Cirrus Logic) develops analog and mixed-signal integrated circuits (IC) for a broad range of consumer and industrial markets. Building on its diverse analog mixed-signal patent portfolio, Cirrus Logic delivers optimized products for consumer and professional audio, automotive entertainment, and targeted industrial applications, including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration. The Company serves customers in the United States, Europe and Asia, including the People’s Republic of China, Hong Kong, South Korea, Japan, Singapore, Taiwan and the United Kingdom. In October 2013, the Company acquired Acoustic Technologies, Inc.