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Cirrus Logic Inc. Stock Buy Recommendation Reiterated (CRUS)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (TheStreet) -- Cirrus Logic (Nasdaq:CRUS) has been reiterated by TheStreet Ratings as a buy with a ratings score of B- . The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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Highlights from the ratings report include:

  • CRUS's very impressive revenue growth greatly exceeded the industry average of 3.5%. Since the same quarter one year prior, revenues leaped by 90.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • CRUS has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. To add to this, CRUS has a quick ratio of 1.90, which demonstrates the ability of the company to cover short-term liquidity needs.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 215.2% when compared to the same quarter one year prior, rising from $11.25 million to $35.45 million.
  • Powered by its strong earnings growth of 200.00% and other important driving factors, this stock has surged by 60.59% over the past year, outperforming the rise in the S&P 500 Index during the same period. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • CIRRUS LOGIC INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CIRRUS LOGIC INC reported lower earnings of $1.30 versus $2.81 in the prior year. This year, the market expects an improvement in earnings ($3.49 versus $1.30).

Cirrus Logic, Inc., a fabless semiconductor company, develops signal processing integrated circuits (ICs) for audio and energy markets. Cirrus Logic has a market cap of $1.93 billion and is part of the technology sector and electronics industry. The company has a P/E ratio of 18.4, above the S&P 500 P/E ratio of 17.7. Shares are up 1.9% year to date as of the close of trading on Thursday.

You can view the full Cirrus Logic Ratings Report or get investment ideas from our investment research center.

--Written by a member of TheStreet Ratings Staff.

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