Cirrus Logic Poised To Move?

Cirrus Logic has recently traded in the $19’s after reaching above $25. The company makes audio chips for smart phones, and has a contract with Apple for the IPhone and IPad. A recent target price for Apple stock was issed at $480 (current price is around $339). CRUS stock is very much tied to Apple, who continues to come in with strong sales numbers. CRUS has a P/E ratio of about 14, which is very cheap for the growth they are experiencing. On 4/4 chipmaker Texas Instruments announced they were purchasing National Semiconductor at a significant premium. This will be good news for CRUS, but the charts show the stock slipping to its next resistance level at $18. With CRUS poised for strong growth, it could easily see $25 again after its late April earnings announcement, but it may still hit $18 before that happens.

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About morrowmoney

Marc J. Morrow, CFP® - Financial Planner Email: marcjmorrow@gmail.com Marc has spent his entire career in finance. For 13 years he worked as a financial advisor and helped over 500 families reach their financial goals. He currently manages about 40 financial planning clients while he focuses on venture capital projects and works on the website his family started, www.morrowmoney.com. Professional Services Financial Planning Corporate Retirement Planning Investment Management Individual Insurance Venture Capital Qualifications NASD Series 7, 24, 63 and 65 Certified Financial Planner™ Florida Life, Health and Variable Annuity Insurance Licenses Bachelor in Science in Business Administration with a major in Finance from Bryant University, Smithfield, RI Personal Board Member for Russell Life Skills and Reading Foundation Member of United Way Young Leaders Group Plays baseball for the Broward Cardinals Trained in Martial Arts
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