These Analysts Boost Their Forecasts On Cirrus Logic Following Upbeat Earnings

Core Insights - Cirrus Logic, Inc. reported better-than-expected earnings for Q2, with earnings of $2.83 per share, surpassing the analyst consensus estimate of $2.37 per share [1] - The company achieved quarterly sales of $560.960 million, exceeding the analyst consensus estimate of $540.385 million [1] - For Q3, Cirrus Logic anticipates sales between $500.000 million and $560.000 million, compared to estimates of $508.763 million [1] Company Performance - The September quarter saw record revenue driven by strong demand for components used in smartphones, as stated by the CEO John Forsyth [2] - Following the earnings announcement, Cirrus Logic shares fell by 1.2%, closing at $129.63 [2] Analyst Ratings - Keybanc analyst John Vinh maintained an Overweight rating on Cirrus Logic and raised the price target from $135 to $150 [4] - Stifel analyst Tore Svanberg also maintained a Buy rating and increased the price target from $140 to $150 [4]