Does Owning Cirrus Logic Still Make Sense?

Did I miss it? Is it too late? Is this stock out of room to run?

These are the questions many investors ask themselves when considering a stock that's had an enormous rally, Cramer said Tuesday. But rather than worry about buying a stock because it's recently doubled or tripled its share price, he thinks investors should concentrate more on where the stock is going.

Take Cirrus Logic , for example, which is an Apple-derivative play. The semiconductor makes microchips that are used in Apple's iPad and iPhone devices, and its stock is on fire, having soared almost 800 percent higher since January 2009.

After this run, Cramer wondered if it's still safe to buy CRUS, especially considering the stock took a 25 percent dive from its highs in August. Cramer always recommends taking profits when you have them, but he wanted to know whether it is time to cash out entirely. For answers, he went “Off the Charts” with help from Dan Fitzpatrick, a widely regarded Wall Street technician. Watch the video for his full analysis of Cirrus Logic.

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