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Cirrus Logic, Inc. (CRUS) 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 (iPods), smartphones (iPhone), tablets (iPad), laptops, audio/video receivers, portable media players and speakers, home theater systems, set-top boxes, headsets and headphones, and digital camcorders and televisions.
The company also provides energy products, which include LED driver ICs, power meter ICs, ADCs, and DACs for use in energy-related applications, such as LED retrofit lamps, digital utility meters, power supplies, and energy exploration.
It sells its products through direct sales force, external sales representatives, and distributors.
Shares have formed a bullish "cup and handle" ahead of the company's earnings on April 28th. We expect a strong report from the frm since it provides components for Apple products. Higher share prices are expected for this stock.
52-Weeks Trading Range: $16.80 - $34.85
Entry Point: $33.75
Stop Loss: $32.05
Target Price: $37.15
CRUS closed at $37.28 after it reached our target price.
