NEW YORK, NY / ACCESSWIRE / February 12, 2018 / Cirrus closed up 5% higher on Friday after tumbling earlier in the week on a dismal third-quarter earnings report. Shares of NVIDIA on the other hand skyrocketed on its fourth-quarter results after the company reported a surprise earnings beat.

RDI Initiates Coverage on:

Cirrus Logic, Inc.
https://rdinvesting.com/news/?ticker=CRUS

NVIDIA Corporation
https://rdinvesting.com/news/?ticker=NVDA

Cirrus Logic's shares closed up 5.24% on almost 2.4 million shares traded on Friday. The gain came in after the company lost almost 12% of its value in early week after the audio chip developer reported disappointing third-quarter results last Monday. Due to a weak demand for smartphones, the company saw its revenue decline unexpectedly in the quarter. Cirrus also laid out a dismal outlook for the fourth quarter. Revenue for the third quarter fell 7.7% YOY to $482.7 million. Non-GAAP earnings per share of $1.59 were below the $1.77 analysts were expecting. Shares tumbled about 10% after the earnings release. Despite the weak demand in smartphones, the company assured that its position with key customers such as Apple is going strong. Apple represented 86% of the company's revenue as it is Cirrus' largest customer. In the second quarter the revenue from Apple was at 82%. Looking ahead at fourth quarter guidance for 2018, the company is expecting revenue to be in a range of $300 to $340 million, lower than the $370 million analysts had been waiting for. It expects gross margin between 48% and 50%.

Access RDI's Cirrus Logic, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CRUS

NVIDIA's shares closed up 6.69% this past Friday on nearly 42 million shares traded. Trading volume was nearly three times higher than usual after the company reported a surprise earnings beat on Thursday. Shares had already jumped as much as 14% in after-hours trading on Thursday. NVIDIA reported $2.91 billion in sales for the fourth quarter and adjusted profit of $1.72 share. This easily sailed by what Wall Street was expecting. Analysts were waiting for $2.68 billion in sales and adjusted profit of $1.16 per share. CEO Jensen Huang remarked, "Industries around the world are racing to incorporate AI. Virtually every internet and cloud service provider has embraced our Volta GPUs. Hundreds of transportation companies are using our NVIDIA DRIVE platform. From manufacturing and healthcare to smart cities, innovators are using our platform to invent the future." Looking ahead the company expects sales of $2.84 billion to $2.96 billion in its next quarterly report. The stock has gained over 104% in the last twelve months.

Access RDI's NVIDIA Corporation Research Report at:
https://rdinvesting.com/news/?ticker=NVDA

Our Actionable Research on Cirrus Logic, Inc. (NASDAQ: CRUS) and NVIDIA Corporation (NASDAQ: NVDA) be downloaded free of charge at Research Driven Investing.

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