As previously reported, Benchmark downgraded Cirrus Logic (CRUS) to Hold from Buy and removed the firm’s price target on the shares. Although the firm says it appreciates the new content growth at Apple (AAPL) and remains “upbeat” on the migration to laptops, it believes the current share price is reflecting these incremental bill of material gains following the company’s latest “beat and raise” earnings report.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRUS:
- Surveys reflect continuous weak Apple iPhone demand, says KeyBanc
- Cirrus Logic price target raised to $110 from $100 at Loop Capital
- Cirrus Logic price target raised to $120 from $100 at Susquehanna
- Cirrus Logic price target raised to $115 from $100 at TD Cowen
- Cirrus Logic price target raised to $110 from $95 at Barclays
