This Tech Stock Could Soar 42%, and It Is a Terrific Bargain Right Now

Shares of Cirrus Logic (NASDAQ: CRUS) have dipped more than 7% in 2022 so far, despite the company releasing a solid fiscal 2022 third-quarter report on Jan. 31.

Cirrus stock has lost more than 4% of its value since the release of the quarterly report. This seems a tad harsh given that the company's top and bottom lines crushed expectations by a huge margin, and the guidance was way ahead of expectations as well. Not surprisingly, analysts covering Cirrus stock expect it to deliver solid upside.

The stock has a median share price target of $110 and a high estimate of $120, which would translate into a 42% upside from its closing price on Feb. 11. Cirrus stock seems capable of delivering such impressive upside given the pace at which it is growing and the multiple catalysts it is sitting on.

Source Fool.com