- Analyst Matthew Ramsay maintains a Buy rating and raises his price target from $56 to $65 (current price $56.47).
- Ramsay notes Cirrus Logic's iPhone 7 chip content grew by 70% over the iPhone 6s with a dollar increase to $6 per phone up from $3.50.
- On biometrics prospects: "We believe Cirrus’ research into voice biometric security is gaining increasing interest from both smartphone OEMs and other consumer device makers. Discussion of this new technology came up in each meeting we hosted as an area of primary R&D investment for the company with the possibility to integrate across the audio value chain (particularly with smart microphones) and drive more sticky and higher margin design wins for the company."
- Shares in Cirrus Logic (CRUS +1.7%) are presently trading up around 14% from this point last week.