Cirrus Logic Stock Gaps Up On Today's Open (CRUS)

NEW YORK ( TheStreet) -- Shares of Cirrus Logic (Nasdaq: CRUS) were gapping up Tuesday morning with an open price 21% higher than Monday's closing price. The stock closed at $29.84 Monday and opened today's trading at $36.10.

The average volume for Cirrus Logic has been 2.5 million shares per day over the past 30 days. Cirrus Logic has a market cap of $1.87 billion and is part of the technology sector and electronics industry. Shares are up 82.7% year to date as of the close of trading on Monday.

Cirrus Logic, Inc., a fabless semiconductor company, develops and sells high-precision analog and mixed-signal integrated circuits (ICs) for audio and energy markets worldwide. The company has a P/E ratio of 22.4, equal to the average electronics industry P/E ratio and above 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, solid stock price performance, expanding profit margins and good cash flow from operations. 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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