Cirrus Logic Hits a 52-Week High: The Sweet Sound of Gainshttp://www.fool.com/investing/general/2012/06/19/cirrus-logic-hits-a-52-week-high-the-sweet-sound-o.aspx Evan Niu (TMFNewCow)
June 19, 2012
Shares of Cirrus Logic (Nasdaq: CRUS ) hit a 52-week high on Monday. Let's look at how it got here and see whether clear skies are ahead.
How it got here
Shares saw some healthy upside on Monday, gaining 5.7%. There are a couple of possible reasons for the jump, including some reinvigorated analyst bullishness on the Mac maker, as Topeka Capital's Brian White was out touting Apple's prospects, saying the company should be measured in "trillions" instead of billions. If Apple crosses the trillion-dollar market-cap threshold, Cirrus would be a clear beneficiary as well.
The broader semiconductor market is also seeing some recovery, with the Semiconductor Industry Association, or SIA, recently saying that global semi sales in April rose 3.4% sequentially to $24.1 billion, the largest gain in the industry since May 2010 on a sequential basis. In dollar terms, the market remains lower than a year ago, but the growth figures are leading to an overall outlook of "cautious optimism," according to SIA CEO Brian Toohey.
How it stacks up
We'll throw in some fundamentals metrics for comparison.