Cirrus Logic stock hits 52-week high at 134.68 USD

Cirrus Logic Inc (CRUS) stock reached a 52-week high of 134.68 USD, marking a significant milestone for the company. According to InvestingPro data, the company boasts a perfect Piotroski Score of 9, indicating exceptional financial strength, while analysis suggests the stock remains undervalued at current levels. Over the past year, the stock has experienced a positive change of 10.3%, with particularly strong momentum shown in its 34.7% gain over the past six months. The latest high reflects investor confidence and the company’s strong performance in the semiconductor industry, as it continues to innovate and expand its product offerings. With a healthy P/E ratio of 20.7 and management actively buying back shares, this achievement underscores Cirrus Logic’s strategic initiatives and market position, contributing to its upward trajectory in the stock market. For deeper insights into CRUS’s valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Cirrus Logic reported first-quarter results that surpassed expectations, with revenue coming in 12% above estimates and earnings per share 38% ahead of projections. The company also provided guidance for the next quarter that is 8% to 10% above consensus, according to Benchmark, which reiterated its Buy rating and set a price target of $125. Additionally, Cirrus Logic and GlobalFoundries have expanded their partnership to develop Bipolar-CMOS-DMOS (BCD) process technology, aiming to enhance power efficiency and reduce chip size. This collaboration will see production at GlobalFoundries’ New York facility, complementing existing sites in Singapore and Germany.

Stifel has been actively adjusting its outlook on Cirrus Logic, recently raising the stock’s price target to $140 from $130, while maintaining a Buy rating. The firm highlighted Cirrus Logic’s financial strength, diversification, and technology leadership as key factors for this decision. Earlier, Stifel had increased the price target from $120 to $130, noting the company’s expanding market opportunities in the laptop sector, driven by advancements in edge AI technology. The firm emphasized Cirrus Logic’s sales to major laptop manufacturers, including Dell, HP, Lenovo, Acer, and Asus.

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