NextEra Energy stock rises after Google power deal report
Cirrus Logic Inc. stock reached a new 52-week high, climbing to 129.64 USD. The company demonstrates exceptional financial health with a perfect Piotroski Score of 9, according to InvestingPro data, and maintains impressive liquidity with a current ratio of 6.58. This milestone comes as the company experiences a modest 1-year change of 2.76%, though its six-month return stands at an impressive 47.41%. The Austin-based semiconductor supplier has been navigating a competitive market, and this recent peak reflects investor confidence in its strategic initiatives and product innovations. Based on InvestingPro analysis, the stock appears to be trading below its Fair Value. Despite fluctuations in the tech sector, Cirrus Logic’s steady growth over the past year underscores its resilience and adaptability in a rapidly evolving industry landscape. InvestingPro has identified 13 additional investment tips for CRUS, available to subscribers along with comprehensive Fair Value analysis and detailed financial metrics.
In other recent news, Cirrus Logic reported first-quarter results that surpassed expectations, with revenue coming in 12% above estimates and earnings per share exceeding predictions by 38%. The company also provided guidance for the next quarter that is 8% to 10% above consensus estimates. Cirrus Logic and GlobalFoundries announced an expansion of their partnership to develop next-generation semiconductor technologies, focusing on Bipolar-CMOS-DMOS (BCD) process technology. This collaboration aims to enhance power efficiency and reduce chip size, with production taking place in Malta, New York, and complementing existing facilities in Singapore and Germany.
Stifel has been active in adjusting its outlook on Cirrus Logic, recently raising the stock price target to $140 from $130, maintaining a Buy rating. This increase follows an earlier adjustment from $120 to $130, highlighting Cirrus Logic’s growing diversification and technological advancements. Stifel also reaffirmed its Buy rating based on the expanded foundry partnership with GlobalFoundries. The investment firm noted the company’s opportunities in the laptop market, driven by edge AI technology, and its sales to major PC manufacturers like Dell, HP, and Lenovo.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.