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 Inc. gapped open sharply higher Tuesday and climbed during the first hour of trade. The stock was range-bound for the remainder of the day and finished up by $1.34 at $7.96 on the highest volume of the year. Shares broke out of a 3-week range and set a new high for the year.
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