Cirrus Logic Reports Q3 Revenue of $347.9 Million

Company Continues to Expect Strong Year-Over-Year Growth in FY16 and FY17

AUSTIN, Texas--- Cirrus Logic, Inc. (Nasdaq: CRUS), a leader in high-precision analog and digital signal processing products, today posted on its investor relations website at http://investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the third quarter fiscal year 2016, which ended Dec. 26, 2015, as well as the company’s current business outlook.

“While short term weakness for certain portable audio products drove our fiscal Q3 results and Q4 outlook lower than anticipated, we are on track to deliver 27 percent year over year growth for full FY16, based on the midpoint of Q4 guidance, and we remain confident in our ability to deliver strong growth in FY17,” said Jason Rhode, president and chief executive officer. “With a comprehensive roadmap of innovative audio and voice products targeting the mobile phone, smart accessory and digital headset markets, the company is focused on execution, diversification and sustained growth in the coming years.”

Read more: Cirrus Logic Inc ( CRUS )

Cree Expands XQ LED Family to Deliver Lower System Cost

DURHAM, N.C.-- Cree, Inc. (Nasdaq: CREE) expands its industry-leading portfolio of lighting-class LEDs with the addition of the XLamp® XQ-A LED to the XQ LED family. The compact, ceramic-based XQ-A enables lighting manufacturers to quickly and cost-effectively expand their product portfolios by leveraging an LED design that is similar to that of the proven and reliable XQ-E. With a broad range of color options and optical symmetry, the XQ-A LED is the smallest LED building block available for designs that use white and color LEDs.

“The introduction of the XQ-A LED gives us more options to increase the capability of our machine vision and industrial LED lights using the same compact XQ package that we know and like," said Matt Pinter, co-founder and lead design engineer for Smart Vision Lights. “Unlike mid-power color LEDs, the compact, ceramic-based XQ-A LED will allow us to put two, three or even four LEDs under our new silicone lens technology where we could only use one LED before. This generates more light for industrial applications without compromising lifetime.”

Read more: Cree Inc ( CREE )

Fairchild Semiconductor Acknowledges Receipt of Revised Unsolicited Proposal

SAN JOSE, Calif.-- Fairchild Semiconductor International, Inc. (Nasdaq:FCS) (“Fairchild”) today acknowledged receipt of a revised, unsolicited proposal to acquire all of the outstanding shares of common stock of Fairchild for $21.70 per share in cash (the “Revised Proposal”).

Fairchild’s board of directors, in consultation with its legal and financial advisors, will carefully review and consider the Revised Proposal.

As previously announced on November 18, 2015, Fairchild entered into an Agreement and Plan of Merger with ON Semiconductor Corporation (“ON Semiconductor”) (the “Merger Agreement”), under which a wholly owned subsidiary of ON Semiconductor has agreed to acquire all of the outstanding shares of Fairchild common stock for $20.00 per share in cash.

Fairchild remains subject to the Merger Agreement and Fairchild’s board of directors has not changed its recommendation in support of the Merger Agreement.

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Mattson Technology, Inc. Enters Into a Definitive Agreement to Be Acquired by the Beijing E-Town Dragon Semiconductor Industry Investment Center for $3.80 per Share in Cash

FREMONT, CA and BEIJING, CHINA--(December 01, 2015) - Mattson Technology, Inc. (MTSN), a global semiconductor wafer processing equipment provider, and Beijing E-Town Dragon Semiconductor Industry Investment Center (Limited Partnership) ("E-Town Dragon"), today jointly announced that they have entered into a definitive merger agreement under which E-Town Dragon will acquire all of the outstanding shares of Mattson for $3.80 per share in cash. The transaction price represents a 55 percent premium to the 30-trading day average closing price for the period ending December 1, 2015, a 23 percent premium to Mattson's closing stock price on December 1, 2015, and values Mattson's equity at approximately $300 million on a fully diluted basis.

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Qorvo(R) Reports Fiscal 2016 Second Quarter Results and Announces $1 Billion Share Repurchase Program

GREENSBORO, N.C. and HILLSBORO, Ore., Nov. 5, 2015

Quarterly Financial Highlights

  • GAAP quarterly revenue increased 5.2% sequentially to $708.3 million
  • On a GAAP basis, gross margin was 40.2%, operating income was $18.0 million, and diluted EPS was $0.03
  • On a Non-GAAP basis, gross margin was 49.7%, operating income was $194.8 million, and diluted EPS was $1.22
  • Qorvo repurchased approximately 9.1 million shares of common stock at a total cost of $500 million
    Read more: Qorvo ( QRVO )

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