Cirrus Logic Inc. shares dropped to a 52-week low of $109.81 on Tuesday, extending a recent slide that has pushed the stock nearly 39% below its 52-week high of $180.42.
The company’s audio and mixed-signal chips, used in smartphones and other devices, have faced pressure as demand in the broader semiconductor sector remains subdued. Cirrus’s stock last traded at $109.43, down 4.21% over the past year, according to market data.
The decline follows the company’s fiscal first-quarter results, which topped Wall Street estimates despite a slight revenue shortfall. Adjusted earnings per share came in at $1.84, exceeding the $1.82 forecast, while revenue totaled $459.7 million, marginally below the $460 million consensus. Revenue rose 13% year-over-year, marking a record first quarter for the fiscal year.
Stifel maintained its "Buy" rating on Cirrus but lowered its adjusted price target to $160 from $197, citing ongoing sector headwinds. The stock’s relative strength index suggests it is in oversold territory, and InvestingPro’s fair-value assessment indicates it may be significantly undervalued.
Cirrus Logic’s market capitalization stands at $5.5 billion, with a price-to-earnings ratio of 13.6, reflecting investor caution amid broader tech sector volatility.
