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Cirrus Logic Still Makes Sense
Cirrus Logic, Inc. (CRUS - Analyst Report) is a fabless OEM (original equipment manufacturer) of analog, mixed-signal and digital processing integrated circuits (ICs).
Although the company's Q3 2009 results were in line with the pre-announcement, we expect further weakness in top-line growth.
The seismic product line remains a strong growth area, and the revenue opportunity is larger in the near term. This group should maintain its growth even though oil prices have declined. Our recommendation remains a BUY with our target price of $5.00.
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| Market Summary | Nov 26, 2009 11:36 am ET |
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