Cirrus Logic (CRUS) – Bull of the Day
Source: http://www.zacks.com/commentary/11327/Cirrus+Logic+%28CRUS%29+-+Bull+of+the+DayPosted on Friday, June 26th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Cirrus Logic, Inc. (CRUS) is a fabless OEM of analog, mixed-signal and digital processing integrated circuits (ICs). The company’s 4Q results were in line with our expectation.
On the positive side, CRUS reflects a strong balance sheet with no debt. The company has also provided decent 1Q 2010 guidance. Cirrus’ new product offerings are expected to benefit end customers.
The seismic product line remains a strong growth area and should help increase revenue going forward. This group should maintain its growth even after factoring in the changes in oil price. Our recommendation remains a BUY with a price target of $5.50.
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