Cirrus Logic Reaches New 52-Week High (CRUS)

NEW YORK ( TheStreet) -- Cirrus Logic (Nasdaq: CRUS) hit a new 52-week high Wednesday as it is currently trading at $24.29, above its previous 52-week high of $24.14 with 166,932 shares traded as of 9:55 a.m. ET. Average volume has been 1.8 million shares over the past 30 days.

Cirrus Logic has a market cap of $1.4 billion and is part of the technology sector and electronics industry. Shares are up 47.7% year to date as of the close of trading on Tuesday.

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 10, above the average electronics industry P/E ratio of nine 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, increase in stock price during the past year 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.

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