Key insights
- KeyBanc raised its price target for Cirrus Logic (CRUS) to $175 based on strong iPhone demand and build trends. The firm anticipates near-term upside to estimates, supported by a robust financial position and positive analyst revisions. While a staggered iPhone 18 launch may cause growth deceleration in 2026, CRUS is expected to sustain content growth at Apple and benefit from the SoundWire opportunity in PC notebooks. The stock appears undervalued with an attractive PEG ratio.
Investing.com - KeyBanc raised its price target on Cirrus Logic stock (NASDAQ:CRUS) to $175 from $150 while maintaining an Overweight rating. The stock currently trades at $147.13, up 77% over the past year and near its 52-week high of $154.90.
The price target increase follows KeyBanc analyst John Vinh’s recent trip to Asia, which prompted revisions to several company estimates and price targets.
The firm sees mixed implications for Cirrus Logic. Positive iPhone demand and build trends should support upside to near-term estimates. The company’s financial position appears robust, with InvestingPro data showing a perfect Piotroski Score of 9 and seven analysts recently revising earnings upwards.
The staggered launch for the iPhone 18 is likely to result in negative year-over-year growth in the second half of 2026. KeyBanc increased its price target as the stock has approached its prior target.
KeyBanc believes Cirrus Logic remains well positioned to sustain content growth at Apple over the long term. The firm views the SoundWire opportunity in PC notebooks as a sustainable opportunity capable of reaching 10% of revenues. According to InvestingPro analysis, the stock appears undervalued at current levels, trading at an attractive PEG ratio of 0.49. For deeper insights, investors can access comprehensive Pro Research Reports covering CRUS and 1,400+ other US equities.
In other recent news, Cirrus Logic reported strong financial results for its fiscal third quarter of 2026, exceeding both earnings and revenue expectations. The company achieved a record earnings per share of $2.97, surpassing the anticipated $2.41, and reported revenue of $580.6 million, which was above the forecasted $534.52 million. Following these robust results, Stifel raised its price target for Cirrus Logic to $163, maintaining a Buy rating, while Benchmark also increased its price target to $160, citing the company’s strong performance driven by record iPhone shipments. Additionally, Cirrus Logic has been named a key partner in Apple’s American Manufacturing Program expansion, a move that involves a $400 million investment. This partnership with Apple, along with foundry provider GlobalFoundries, highlights Cirrus Logic’s strategic importance in Apple’s manufacturing plans. Stifel reiterated its Buy rating, emphasizing the significance of the Apple partnership. These developments underscore Cirrus Logic’s positive momentum in both its financial performance and strategic partnerships.
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