These Analysts Increase Their Forecasts On Cirrus Logic Following Strong Q3 Earnings

Core Viewpoint - Cirrus Logic Inc reported better-than-expected third-quarter financial results and provided fourth-quarter sales guidance above market estimates [1][2] Financial Performance - The company reported quarterly earnings of $2.97 per share, exceeding the analyst consensus estimate of $2.44 per share [1] - Quarterly sales reached $580.620 million, surpassing the analyst consensus estimate of $533.890 million [1] Fourth-Quarter Guidance - Cirrus Logic anticipates fourth-quarter sales between $410.000 million and $470.000 million, compared to market estimates of $384.290 million [2] - The revenue increase is attributed to stronger-than-expected demand for components in smartphones and a favorable mix of end devices, as stated by the CEO John Forsyth [2] Stock Performance - Following the earnings announcement, Cirrus Logic shares increased by 4.2%, reaching $129.86 in pre-market trading [2] Analyst Ratings and Price Targets - Benchmark analyst David Williams maintained a Buy rating on Cirrus Logic and raised the price target from $150 to $160 [4] - Stifel analyst Tore Svanberg also maintained a Buy rating and increased the price target from $150 to $163 [4]