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Cirrus Logic Inc. Message Board

  • dgalbers dgalbers Mar 18, 2011 9:31 AM Flag

    CRUS - Some Turbulence Here

    I owned CRUS stock. I like the company and the stock.

    But I sold when it reached $24.80. Previously I have checked insider trading (they have been extremely good at selling at near the peak). Due to 3 day filing period, found out after I sold that insiders had sold at the exact same day with some trades at the exact same price.

    Regardless of what Cramer says (I don't listen to him. All he did for CRUS was cause the price to spike and the shorts rushed in to take advantage of the inflated price causing a delay in the eventual price rise in CRUS), I think CRUS has peaked for a while, the stock has gotten ahead of itself. Value Line has 3 to 5 year target price of $25 to $40 and it had already touched $25.

    Retrenchment is likely for a while. Bollinger Bands indicate price range of $17.50 to $22.50 realistic.

    Historically, CRUS's strongest period is from its last reporting date to Sep. So the stock price might bounce around a lot for next 7 months.

    If I can, I will get back into CRUS. Unless something big happens, it is headed to $35 to $40. Intuit places an intrinsic value of $53.61 to $62.78. And stocks can and do get overvalued, so it could go even higher.

    But with the troubles in Japan and may be consumers be spooked away for such discretionary products, expect Apple (AAPL) and CRUS to exhibit weakness.

    Although, here in Northern Virginia and Washington, DC metro area, the iPad2 is a sellout again. At the Apple stores and the AT&T stores which only offers the 3G version not the wifi version offered at Apple stores.

    Tighten your seat belts and good luck.

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