NEW YORK ( TheStreet) -- Cirrus Logic (Nasdaq: CRUS) hit a new 52-week high Thursday as it is currently trading at $25.53, above its previous 52-week high of $24.85 with 1.2 million shares traded as of 9:35 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Cirrus Logic has a market cap of $1.33 billion and is part of the technology sector and electronics industry. Shares are up 31.2% year to date as of the close of trading on Wednesday.

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 8.9, 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance 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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