Long Position on CRUS @ $23.30 on 9/25/2013 (Momentum)

Cirrus Logic (CRUS) is a fabless semiconductor company.

The firm develops analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers audio products, including analog-to-digital converters (ADCs), digital-to-analog converters (DACs), codecs, digital interface ICs, volume controls, adaptive noise cancelling circuits, and amplifiers, as well as audio digital signal processors. Its audio products are used in various consumer applications comprising portable media players, Apple's smartphones, tablet computers, laptops, audio/video receivers, Blu-ray disc players, home theater systems, set-top boxes, gaming devices, digital camcorders, and digital televisions.

The company also provides energy products, which include LED driver ICs, power factor correction ICs, ADCs, and DACs for use in energy-related applications, such as LED retrofit lamps, digital utility meters, power supplies, and energy exploration. Cirrus Logic, Inc. sells its products through direct sales force, external sales representatives, and distributors. 

Shares have formed a bullish, shallow "cup & handle" and higher share prices are expected for this stock.

52-Week Trading Range: $16.46 - $42.00

Entry Point:  $23.30

Stop Loss: $22.20

Target Price: $25.70

Updates

10/21/2013 10:10:04 AM

CRUS reached our target price. If you elect to stay in the stock, raise your stop loss to $25 to protect your gains.

Position closed on 10/21/2013 at price of $25.72 with a 10.39% gain in 26 days.

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