Cirrus Logic (CRUS) : Traders are bullish on Cirrus Logic (CRUS) as it has outperformed the S&P 500 by a wide margin of 23.58% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 20.92%, 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 20.84% in the last 1 week, and is up 27.73% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 22.18% and the 50-Day Moving Average is 27.96%. Cirrus Logic Inc. is up 34.6% in the last 3-month period. Year-to-Date the stock performance stands at 64.54%.
Cirrus Logic (NASDAQ:CRUS): On Fridays trading session , Opening price of the stock was $49.55 with an intraday high of $49.6757. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $47.86. However, the stock managed to close at $48.59, a loss of 2.47% for the day. On the previous day, the stock had closed at $49.82. The total traded volume of the day was 2,333,035 shares.
Also, In a research note released to the investors, Barclays maintains its rating on Cirrus Logic (NASDAQ:CRUS).The analysts at the brokerage house have a current rating of Equalweight on the shares. In a recent information released to the investors, Barclays raises the new price target from $35 per share to $38 per share. The rating by the firm was issued on July 28, 2016.
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.