Investors pummeled the shares of Austin-based chipmaker Cirrus Logic Inc. on Thursday and Friday after CEO Jason Rhode said at an investors conference that the company’s gross profit margin could decline sharply in the second half of this year.
Cirrus shares dropped by $4.31 a share, a decline of 19.5 percent in heavy trading Thursday after Rhode’s disclosure. The price fell another 41 cents, or 2.3 percent, in heavy trading on Friday to close at $17.35 a share.
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