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Cirrus Logic (CRUS) Stock Falls After Dialog Semi Reports Earnings

NEW YORK (TheStreet) -- Shares of Cirrus Logic (CRUS - Get Report) were falling 11.5% to $29.85 on Monday after fellow Apple (AAPL) parts supplier Dialog Semiconductor (DLGNF) reported its third quarter financial results.

Dialog Semi said that third quarter revenue grew 18% year over year to $330 million, after rising 44% in the second quarter due to high demand related to the iPhone. The chipmaker said it expects revenue of $430 million to $460 million for the fourth quarter, implying a range of 1% decrease to 6% growth year over year.

The London-based Dialog Semi supplies power management chips to Apple for the iPhone and iPad.

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Dialog Semi's third quarter earnings report is bringing down shares of other Apple suppliers including Cirrus Logic, Skyworks Solutions (SWKS), and Synaptics (SYNA).

About 2.3 million shares of Cirrus Logic were traded...


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