Cirrus Logic (CRUS) : Traders are bullish on Cirrus Logic (CRUS) as it has outperformed the S&P 500 by a wide margin of 28.86% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.41%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.85% in the last 1 week, and is up 32.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Cirrus Logic (NASDAQ:CRUS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.24 and $49.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.46, notching a gain of 2.96% for the day. The total traded volume was 1,099,180 . The stock had closed at $49.01 on the previous day.
The stock has recorded a 20-day Moving Average of 18.15% and the 50-Day Moving Average is 27.89%. Cirrus Logic Inc. is up 52.96% in the last 3-month period. Year-to-Date the stock performance stands at 70.88%.
Cirrus Logic (CRUS) : The highest level Cirrus Logic (CRUS) is projected to reach is $57 for the short term and the lowest estimate is at $38. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $50.5 and the possibility the share price can swing is $6.91.
Cirrus Logic, Inc. (Cirrus Logic) develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio, automotive entertainment, and targeted industrial applications including energy control, energy measurement, light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States, Europe and Asia, including the Peoples Republic of China, Hong Kong, South Korea, Japan, Singapore, Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control, energy measurement, LED lighting and energy exploration applications.