Cirrus Logic ( CRUS Quick Quote CRUS - Free Report) recently launched a high-end device amplifier to make the most of the growing use of internal speakers of mobile phones, tablets and gaming devices, for music, movies, gaming, and others. The CS35L45-boosted smart power amplifier enhances the user experience of devices with remarkable audio performance. Notably, speaker protection and adaptive battery management will deliver 30% higher peak loudness compared to the company’s previous generation of boosted amplifiers.
Per a survey by SAR Insight & Consulting conducted for Cirrus, the use of speaker mode among consumers has increased 40% over the past year. According to the survey, the pandemic-led everything-from-home wave is driving the use of smartphone speakers to watch videos, participate in video calls and virtual meetings, and listen to podcasts or music.
Cirrus Logic anticipates a steady revenue uptick drawn from Android customers, backed by content gains on various OEMs. The company claims that it now ships parts to eight of the top 10 phone makers. Apart from the mobile market, the rising demand for boosted amplifiers in tablets and laptops is a key driver. Notably, per Counterpoint Research, the global smartphone market continued to recover in the fourth quarter of 2020, increasing 8% sequentially to 395.9 million shipped units. Moreover, per Market Research Future, the global power amplifier market is expected to see a CAGR of 16% from 2016 to 2022 and reach $2.8 billion by the end of 2022. These projections are encouraging for Cirrus Logic, which, in the last few years, has unveiled a variety of new products related to flagship and mid-tier smartphones, and the emerging digital headset market. The products include audio codecs and DSPs, amplifiers, SoundClear embedded software, etc. Growth opportunities in voice biometrics and closed-loop controllers are likely to be key drivers in the long term. Sustained focus on expanding product portfolio will help the company gain new customers, thereby driving revenues. Zacks Rank & Other Stocks to Consider Cirrus currently carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the broader technology sector are Skyworks Solutions ( SWKS Quick Quote SWKS - Free Report) , Vishay Intertechnology, Inc. ( VSH Quick Quote VSH - Free Report) and Etsy, Inc. ( ETSY Quick Quote ETSY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here. The long-term earnings growth rate for Skyworks Solutions, Vishay Intertechnology and Etsy is currently pegged at 18.98%, 20.26% and 25.25%, respectively. Zacks Names “Single Best Pick to Double” From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year. Free: See Our Top Stock and 4 Runners Up >>