Analyst Upgrades: Cirrus Logic, Cypress, Twitter

Analysts upwardly revised their ratings on CRUS, CY, and TWTR

Dec 15, 2014 at 9:39 AM
facebook twitter linkedin

Analysts are weighing in today on integrated circuit specialist Cirrus Logic, Inc. (NASDAQ:CRUS), semiconductor issue Cypress Semiconductor Corporation (NASDAQ:CY), and microblogging site Twitter Inc (NYSE:TWTR). Here's a quick roundup of today's bullish brokerage notes on CRUS, CY, and TWTR.

  • CRUS has jumped 11.8% out of the gate to trade at $21.03, after Barclays upgraded the chipmaker to "overweight" from "underweight," and boosted its price target to $28. This early morning rally has brought the shares (which closed at $18.84 on Friday) back above their year-to-date breakeven level of $20.42 -- good news for shareholders. However, Cirrus Logic, Inc. short sellers are likely feeling the heat. More than 13% of the stock's float is sold short, which would take roughly six sessions to buy back, at CRUS' typical daily trading volume.

  • Wedbush boosted its opinion of CY to "outperform" from "neutral," and raised its price target to $18 from $12. This bullish brokerage note is well-deserved, considering the equity had rallied almost 30% year-to-date to sit at $13.63 at Friday's close, and has outperformed the broader S&P 500 Index (SPX) by 45.5 percentage points in the last two months. This morning, the equity is another 3.8% higher at $14.14, and just touched a two-year high of $14.16. Of course, much of this technical strength can be traced to recent news of a merger with Spansion Inc. (NYSE:CODE). Elsewhere, option traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have displayed a healthier-than-usual appetite for long calls over puts in recent weeks. Cypress Semiconductor Corporation's 10-day call/put volume ratio across this trio of exchanges is 11.11, which sits above two-thirds of all comparable readings from the previous 12 months.

  • Finally, TWTR was initiated with a "market outperform" rating and $49 price target at JMP Securities, despite its long-term technical struggles. Specifically, the shares have tumbled 40% year-to-date to rest at $38.15. More broadly speaking, the brokerage bunch is divided on shares of the social media platform. Eleven analysts rate Twitter Inc a "strong buy," while 13 others have doled out either a "hold" or "strong sell" opinion. Meanwhile, TWTR's consensus 12-month price target of $51.32 stands in territory not charted since late October.

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!