CRUS

[eliteG]

CRUS(nasdaq) - Cirrus Logic Inc..

Mkt Cap:           823.56M
Float:                  77.14M

Profile:  Cirrus Logic is recognized worldwide for its expertise in developing high-precision analog and mixed-signal integrated circuits (ICs) for a broad range of consumer and industrial markets. The most respected brands in the audio and industrial markets such as Bose, Harman International, IO, Onkyo, Marantz, Panasonic, Philips, Pioneer, Samsung and Sony rely on Cirrus Logic technology.

Founded in 1984 with headquarters in Austin, Texas, Cirrus Logic is fabless, and has more than 900 patents that are key to our more than 600 products serving more than 3,000 end customers globally.

website: www.cirrus.com


Trade Plan

This trade on CRUS is being made based on technical analysis.  Fundamentals seem solid  .  I may take a deeper inspection as the play moves on.  If you would like a more detailed look   check the following links:

Fundamentals on Homepage:
http://phx.corporate-ir.net/phoenix.zhtml?c=75618&p=irol-TradingStatistics

Wednesday Earnings release:
http://biz.yahoo.com/bw/060426/20060426006091.html?.v=1

Technically we have a great ascending triangle break with volume.  CRUS has been above its 200 almost all year long and perhaps now its ready to push away with some more acceleration.  What makes this pattern very strong is that the ascending triangle was broken, a tight consolidation was created, the breakout was tested and yesterday we had a clear 2nd breakout.  

Entry - We will try to pickup CRUS with a limit @ 9.35 in the morning or with a mkt order if it crosses 9.60.  If this does not execute we will buy @ the market after 12pm.  The main idea.. we want a position tomorrow.  

We will buy CRUS according to plan on 4/28

[422fwhp]

hrmph...I'm in Austin, TX

Let me know if you would like me to go visit "the man" 


Happy trading...Jody

[basanlas]

G,

Did you buy yesterday(4/27) or are you buying today(4/28)?




We will buy CRUS according to plan on 4/27

[eliteG]

4/28.. sorry that is a typo 

[Leaira]

I put a bid in for 9.35 this morning, and missed it by TWO CENTS!     The low of the day was 9.37.  But at lunchtime, I changed my bid to 9.50, and it got filled later this afternoon.  The chart looks very similar to AMTY which I bought Monday at 8.05.  I have a 15% gain on it now.  Hope CRUS does the same thing! 

Leaira

[eliteG]

I put a bid in for 9.35 this morning, and missed it by TWO CENTS!     The low of the day was 9.37.  But at lunchtime, I changed my bid to 9.50, and it got filled later this afternoon.  The chart looks very similar to AMTY which I bought Monday at 8.05.  I have a 15% gain on it now.  Hope CRUS does the same thing! 

Leaira

Hope so too Leaira!     Nice buy on AMTY!


update CRUS:

We wanted to make sure that CRUS did not run away from us on Friday but we didn't have to worry since the market was so down.  With the tall white candle in place from thursday there should be plenty of support in place and so I feel comfortable with placing a stop a bit above the ascending triangle(which I will continue to move up aggressively).

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Position: bought CRUS @ 9.62 on 4/28/2006
Order: Hold
Exit: stop @ 8.74
Target: n/a
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[eliteG]

update CRUS:

Badabing Badaboom!  CRUS broke out of its tight 2 day consolidation and made a powerful move to psych resistance $10.  Very nice 6% gain today.. lets see how CRUS deals with 10..will it need to oscillate to build up momentum to break or will it cut through like 10 was made of butter?  Time to move our stop up on this hotty!

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Position: bought CRUS @ 9.62 on 4/28/2006
Order: Hold
Exit: stop @ 8.97
Target: n/a
------

[tokyopua]

I missed getting in this pick, now its back to around where 3SOF bought it, will look for a good entry tomorrow.

[Terliso]

picked up some shares of CRUS @ 9.73

[nullzero]

Did the stop get hit at 8.97? LOD is 8.95 did 3stocks sell? Im going to try to get in CRUS monday morning if the dust settles.

[setravis]

Cirrus Logic's Industrial Line to
Outperform Audio for First Half of Fiscal 2009
Trading on Cirrus Logic, Inc. (CRUS) was down 21.27% following
Thursday's earnings call in which the company reported a better-thanexpected
fiscal fourth-quarter report, but overshadowed by what the
company described as "lackluster" revenue guidance. "In our view, the
outlook reflects a weaker than expected outlook in consumer products,
as customers for the company's core mixed-signal audio remain conservative
and continue to work down inventory in the current soft demand
environment," Thomas Weisel analyst Heidi Poon said in a note
to clients. She lowered her first-quarter revenue estimate to $43.5M
from $48M. For the full fiscal year of 2009, revenues will grow beginning
this fall when the company begins volume production for multiple key
customers. Revenues for Q1 2009 are expected between $42-$45m,
gross margin at 55-57%, and SG&A between $24-$25M, which includes
$2M in share based compensation expenses. The company is also focusing
on keeping op ex flat and investing in new programs to drive long
term growth. Regarding gross margins for the June quarter, Cirrus has
seen a stabilization with respect to industrial, with audio projected to be
slightly weaker. According to the company, industrial stabilized late last
fall and should have slow but steady growth going forward. However,
growth in the second half of the year is expected to come from its audio
line. As Cirrus ramps its multiple tier-one wins, the company's goal for
operations is to achieve success in the portable area and keep overall
gross margins above 55%. Its long term target for operatings margin is
20%, but it remains to be sees where the percentage lands.