NEW YORK (TheStreet) -- Shares of Cirrus Logic (CRUS) are up 6.32% to $20.08 in pre-market trading after Barclays upgraded the Austin-based circuit company to "overweight" from "underweight" and raised its price target to $28 from $18.
"We believe CRUS' content at Apple (AAPL) is again increasing (to $2.50-3.50 from $2 today) and therefore estimates are too low starting in September '15. We also see opportunities for CRUS to lever the same part into the Android channel, including a likely win in the Samsung Electronics' (SSNLF) GS6," analysts said.
"We believe CRUS will see content in the iPhone 6S next year increase and we believe CRUS' next-gen 55nm smart codec will integrate a low power DSP to enable 'always on voice.' The low power DSP allows the phone to always keep one of the phone mics on and then wake the phone up if a user makes a request," analyst noted.
Additionally, "CRUS can regain share in Android next year with its smart codec as OEMs look to add 'always on' capabilities - particularly Samsung," analysts said.
Separately, TheStreet Ratings team rates CIRRUS LOGIC INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: