Bitcoin price today: sinks below $86k as mixed US jobs data dents Fed cut hopes
Investing.com - KeyBanc raised its price target on Cirrus Logic (NASDAQ:CRUS) to $150.00 from $135.00 on Wednesday, while maintaining an Overweight rating on the stock. This new target aligns with InvestingPro data showing the stock is currently trading near its 52-week high of $136.92, with a strong 31.6% return over the past six months.
The price target increase follows Cirrus Logic’s strong fiscal second-quarter results and third-quarter guidance that exceeded expectations. KeyBanc attributed the company’s performance to stronger iPhone unit shipments rather than content increases. The company’s financial health is exceptional, boasting a perfect Piotroski Score of 9 according to InvestingPro data, indicating robust operational efficiency.
Despite first-half pull-ins related to the iPhone ramp and extended supply chain for camera controllers, Cirrus Logic expects normal seasonality in the fiscal fourth quarter with a sequential decline of approximately 30%.
KeyBanc noted that Cirrus Logic’s management discussed continued progress on power management integrated circuits but did not provide updates on timing or whether this would drive content growth in fiscal year 2027.
The firm slightly raised its estimates for Cirrus Logic based on the strong performance and outlook, resulting in the higher price target while maintaining its Overweight rating.
In other recent news, Cirrus Logic Inc. reported impressive financial results for the second quarter of fiscal 2026. The company exceeded analyst expectations with an earnings per share (EPS) of $2.83, significantly higher than the forecasted $2.07. Additionally, Cirrus Logic’s revenue surpassed projections, reaching $561 million. These financial achievements highlight the company’s strong performance during the quarter. Despite the positive earnings and revenue results, there was a slight decline in aftermarket trading of Cirrus Logic’s stock. Analyst firms have yet to issue any upgrades or downgrades following these results. Investors will be observing how the company’s future performance aligns with these recent outcomes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.