Cirrus Logic (CRUS) announced Wednesday morning that it expects to report fourth-quarter revenue of $206.9 million, which is below the consensus estimate of $210 million.
Cirrus Logic gapped open lower Wednesday and declined throughout the first half of the session. Shares finished down by 3.36 at $18.05, with volume at a 5-month high. The stock dropped below a 2-week range and set a new low for the year.
For comments and feedback: editorial@rttnews.com