Cirrus Logic Inc. (CRUS) announced after the bell Monday that it expects net revenue for the third quarter to be up 49% year over year, to about $65 million. Prior guidance had been for revenues of $58 million to $62 million.
Cirrus Logic gapped up Tuesday morning and has since climbed sharply on above average volume. Shares are now up 1.28 at $7.90. The stock has broken out of a 3-week trading range and has risen to a new high for the year.
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