CRUS Cirrus Logic Inc

The Semiconductor Industry have posted some impressive gains as the demand for mobile devices is rapidly growing. Shares of Apple's chip suppliers surged earlier this week as the company reported it nearly doubled its earnings in the first quarter. "The whole apple semiconductor food chain likely benefits," said RBC Capital analyst Doug Freedman. Five Star Equities examines the outlook for companies in the Semiconductor Industry and provides equity research on Cirrus Logic, Inc. (NASDAQ: CRUS) and TriQuint Semiconductor (NASDAQ: TQNT).

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Apple on Tuesday reported their profits jumped 93 percent in the March quarter, fueled by strong iPhone sales. iPhone shipments for the first quarter totaled 35.1 million units beating analysts' estimates by nearly 15 percent. Buying in China was a major factor for the surprising sales total as the country was responsible for 20 percent of total sales, up from the 12 percent in 2011.

"They are truly just beginning to grow in Asia, and China is possibly their most important market, where they just really started expanding," said Michael Obuchowski, chief investment officer at First Empire Asset Management, "For Apple right now, the most important part of thinking about their business is the international growth."

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Shares of Cirrus Logic, who makes audio processors for Apple, jumped significantly after the company reported fourth quarter revenue above estimates. "We are pleased with our progress in fiscal year 2012. Quarterly revenue in Q4 grew 21 percent on a year-over-year basis, and revenue for the full fiscal year grew at our target goal of 15 percent, well ahead of the semiconductor industry. Our earnings per share for the year were up on a non-GAAP basis and gross margins remained strong for the overall year at 54 percent." the company said in their recent letter to shareholders.

Shares of Triquint rose 7.6 percent Wednesday but have since dropped after the company reported disappointing revenues for the first quarter. The company reported Revenues for the first quarter of 2012 were $216.7 million, down 3% from the first quarter of 2011 and down 5% sequentially. Networks market revenue grew 10% sequentially while mobile devices market revenue and defense & aerospace market revenue decreased 8% and 4%, respectively.

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