NEW YORK ( TheStreet) -- Shares of Cirrus Logic (Nasdaq: CRUS) were gapping up Tuesday morning with an open price 11.1% higher than Monday's closing price. The stock closed at $16.97 Monday and opened today's trading at $18.85. The average volume for Cirrus Logic has been 1.8 million shares per day over the past 30 days. Cirrus Logic has a market cap of $1.05 billion and is part of the technology sector and electronics industry. Shares are up 4.1% year to date as of the close of trading on Monday. Cirrus Logic, Inc., a fabless semiconductor company, develops high-precision analog and mixed-signal integrated circuits (ICs) for audio and energy markets worldwide. The company has a P/E ratio of 6.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cirrus Logic as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cirrus Logic Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.