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

In a research note issued to investors, Blayne Curtis at Barclays Upgraded their rating on Cirrus Logic, Inc. (NASDAQ:CRUS) to a Buy. The analyst placed a $28.00 price target on the stock which indicates a 4.60% Downside to the last closing price. In the year following Curtis’s ratings, the stocks covered yield an average return of 10.4% according to TipRanks.com. In the past year 47 out of 68 recommendations or 69% were successful.

Cirrus Logic, Inc. (NASDAQ:CRUS) shares opened the most recent trading session at 29.32 and at the time of writing the last Bid was at 29.17. In the current trading session the stock reached as high as 29.46 and dipped down to 29.0725. Cirrus Logic, Inc, a NasdaqNM listed company, has a current market cap of 1.830B and on average over the past 3 months has seen 1973030 shares trade hands on a daily basis.

On a technical level the stock has a 50 Day Moving Average of 25.5106. Based on a recent trade, this puts the equity at +14.34% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -1.55% away from it’s 52-week high of 29.63 and +73.63% away from the stock’s low point over the past 52 weeks, which was 16.80. On a consensus basis, analysts have a one year target price of 33.75. The company last reported earnings per share of 0.715.

The consensus analyst estimates according to First Call for the next quarter is 0.17. The current year EPS estimate on the stock is 2.48 and the EPS estimate for next year sits at 1.73. In looking at the fundamentals, CRUS has a P/E ratio of 41.05 and a price to book ratio of 2.58. The company’s Book Value is 11.371 and most recently reported EBITDA of 144.0M. The price compared to next year’s EPS estimate in the current year is 16.97.

Company Profile

Cirrus Logic, Inc. (NASDAQ:CRUS), 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. In August 2014, the Company acquired Wolfson Microelectronics plc.