Why Cirrus Logic Was Rocketing Higher This Week [Yahoo! Finance]
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Source: Yahoo! Finance
As of early Friday morning the company's share price had increased more than 17% week to date, according to data compiled by S&P Global Market Intelligence A dynamite quarter for the specialty tech supplier Cirrus posted its results for its fiscal fourth quarter of 2024 , ended March 30, on Tuesday, and the investor reaction was strong and immediate. That's little wonder, as the company crushed analyst estimates on both the top and bottom lines. Non-GAAP (adjusted) net income was a particularly notable line item, as it soared 31% higher year over year to land at over $69 million. As frequently occurs when one of the stock market's companies crushes it in a quarter, analysts wasted no time getting officially more bullish on Cirrus. Several raised their price targets for the stock. Among these was TD Cowen's Matthew Ramsay, who made a 15% hike by changing his level to $115 per share from the preceding $100 while maintaining his buy recommendation. In Ramsay's post-earnings analy
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