Cirrus Logic stock reaches 52-week high at 126.6 USD

Cirrus Logic Inc. stock has reached a new 52-week high, hitting 126.6 USD. This milestone reflects a notable performance for the semiconductor company, which now commands a market capitalization of $6.49 billion. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating exceptional financial strength. The company has demonstrated impressive momentum, achieving a 20.63% return year-to-date and trading at a P/E ratio of 19.48. The company’s steady growth and ability to hit a 52-week high underscore its resilience and potential in the tech sector. InvestingPro analysis suggests the stock is currently undervalued, with a "GREAT" overall financial health score. Investors and analysts will be watching closely to see if this upward trajectory continues in the coming months. Discover 12 additional exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.

In other recent news, Cirrus Logic reported impressive first-quarter earnings, surpassing expectations with revenue of $407.3 million. This figure exceeded Stifel’s estimate by 13.1% and was attributed to stronger smartphone unit volumes. Additionally, the company’s earnings per share were 38% ahead of forecasts, with guidance for the next quarter also projected to be 8% to 10% above consensus. Cirrus Logic and GlobalFoundries announced an expanded partnership to accelerate the development of semiconductor technologies, focusing on Bipolar-CMOS-DMOS (BCD) process technology. This collaboration will enhance power efficiency and reduce chip size, with manufacturing taking place in Malta, New York, as well as Singapore and Germany.

Stifel has maintained its Buy rating on Cirrus Logic, raising the stock’s price target to $130, citing the company’s growing presence in the laptop market through edge AI technology. Stifel also highlighted Cirrus Logic’s sales to major laptop manufacturers, including Dell, HP, Lenovo, Acer, and Asus. Benchmark has reiterated its Buy rating with a $125 price target following the company’s strong financial performance. These developments underscore Cirrus Logic’s strategic advancements and robust financial results.

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