
Cirrus Logic (CRUS) Stock Forecast & Price Target
Cirrus Logic (CRUS) Analyst Ratings
Bulls say
Cirrus Logic Inc. demonstrated a solid financial performance with a 4.5% year-over-year and 3.5% quarter-over-quarter sales increase, driven by an improved product mix and higher smartphone unit volumes. The company's gross margin also improved, rising 60 basis points quarter-over-quarter, attributed to more favorable product offerings and reduced inventory reserves, which positions it well despite pricing pressures. With a strong cash balance of $1.08 billion and substantial growth opportunities in various segments, including a projected doubling of PC revenue and a favorable outlook for the automotive market, Cirrus Logic is poised for continued annual revenue growth, potentially exceeding $2 billion for the first time.
Bears say
Cirrus Logic's outlook is negatively impacted by a significant reliance on Apple for revenue, accounting for 94% of the quarterly sales, coupled with a notable decline in General Markets revenue, down 38% quarter-over-quarter. The company's revenue is forecasted to potentially experience a 24% decline in the upcoming quarter due to legacy products nearing end-of-life and the ongoing challenges posed by macroeconomic conditions. Additionally, risks related to customer and product concentration, as well as supply chain disruptions from potential resurgences of infections, raise further concerns about future performance and financial stability.
This aggregate rating is based on analysts' research of Cirrus Logic and is not a guaranteed prediction by Public.com or investment advice.
Cirrus Logic (CRUS) Analyst Forecast & Price Prediction
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