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Watch for Continued Gains in Shares of Cirrus Logic (CRUS)

By James Quinn

Cirrus Logic (NASDAQ:CRUS) traded today at a new 52-week high of $41.77. Approximately 192,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.

Cirrus Logic, Inc. designs and manufactures integrated circuits that employ precision linear and advanced mixed-signal processing technologies. The Company's products enable system-level applications in mass storage, audio, and precision data conversion. Cirrus serves a broad customer base in the mass storage, industrial, and audio markets.

In the past 52 weeks, shares of Cirrus Logic have traded between a low of $24.56 and a high of $41.77 and are now at $41.18, which is 68% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.29% higher over the past week, respectively.

Cirrus Logic has overhead space with shares priced $41.18, or 12.0% below the average consensus analyst price target of $46.80. The stock should find initial support at its 50-day moving average (MA) of $35.52 and further support at its 200-day MA of $31.83.

SmarTrend is monitoring the recent change of momentum in Cirrus Logic. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cirrus Logic in search of a potential trend change.

Keywords: 52 week high/lows cirrus logic

Ticker(s): CRUS