technical target for the chipmaker is in $27.50's neighborhood.
However, CRUS has done some appreciating already. Shares have moved up more than 40 percent after hitting their 52-week low of $16.46 in June 2013. However, there could be more, perhaps, a lot more to go as Cirrus Logic's 52-week high is $45.49.
From our view of CRUS' stock chart, iStock sees an extended rounding bottom formation that dates back to the middle of February 2013. If our assessment is correct, and the recent rise in volume hints that it might be, then the logical short-term technical target for the chipmaker is in $27.50's neighborhood.