Why Cirrus Logic Stock Closed 15% Higher on Wednesday

Shares of Cirrus Logic (CRUS 14.59%) jumped as much as 18.6% higher on Wednesday, cooling down to a robust 14.6% gain at the end of the day. The designer of audio control and voice-processing chips reported fantastic third-quarter results that exceeded analyst expectations by a country mile.Q3 earnings crushed expectationsYour average Wall Street firm would have settled for earnings of roughly $2.01 per share with revenues near$540 million. Instead, Cirrus saw sales increase 5% year over year to $620 milli ...