Shares of this semiconductor stock are attractive, on hopes of an easing of the trade war with China. The company beat analysts’ earnings estimates by $0.20 last quarter.
Cirrus Logic, Inc. (CRUS)
From Nate’s Notes
While it is true that Cirrus Logic, Inc.’s (CRUS) stock could be getting ready to go through another “reset” like it did back in May, as you can see in the chart, Cirrus’ stock has been performing very well lately.
And though I remain concerned about the fact that we don’t actually know how the trade war is going to ultimately affect the semiconductor business on a longer-term basis, there is no arguing with the idea that the chart pattern being traced out these days is among the more bullish-looking you can hope to find if you use “charting” as one of your tools.
Consequently, I am raising the buy limits a bit this month and also adding a few more shares to both Portfolios. With patience, CRUS is a strong buy under $48 and a buy under $60.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, September 2019