Cirrus Logic predicts 4Q revenue below forecasts

Cirrus Logic Inc. predicted on Wednesday that revenue its fiscal fourth quarter will fall short of Wall Street's expectations, after the chip maker reporter that its earnings dropped 34 percent in the third quarter.

For the fourth quarter ending March 28, Cirrus Logic predicted that revenue will range between $31 million and $36 million.

Analysts surveyed by Thomson Reuters forecast quarterly revenue of $37.9 million.

Cirrus Logic shares jumped 17 cents, or 6.3 percent, to $2.87 in aftermarket trading, after losing 6 cents, or 2.2 percent, to $2.70 during the regular session. The stock has traded between $2.16 and $7.63 during the past 52 weeks.