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What: Shares of Cirrus Logic (NASDAQ:CRUS), a seasoned hand at designing high-quality audio chips, fell 10% in June according to S&P Capital IQ data. It was smooth sailing for most on the month, until the stock hit a snag on June 26. There, general investor worries about the semiconductor industry led to pricing haircuts across the sector -- Cirrus included.

So what: You might recall June 26 as the day memory chip giant Micron Technology (NASDAQ:MU) reported disappointing earnings. That early morning announcement sent shock waves across the semiconductor sector, because Micron's gloomy figures pointed to another sharp downturn in the PC market. Micron shares took the largest haircut, of course, but Cirrus investors suffered a 5.4% burn over the next two trading days.

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Now what: Now, I see how Micron's weakness might undermine manufacturers of PC components. But Cirrus isn't big in that market.

In the words of Cirrus CEO Jason Rhode, "people should definitely think about us as a mobile audio company."

In the recently concluded 2015 fiscal year, Cirrus reported $740 million in sales via portable audio devices. Everything else -- mostly PC audio and LED lighting power controllers -- added up to just $176 million. That's 80% mobile audio and 20% other markets. So Cirrus investors certainly need to keep an eye on the mobile device market, but can safely ignore what's going on in the PC sector.

All things considered, Cirrus shares have surged 38% higher year to date. June provided a sudden course correction, but this stock is still crushing the market in 2015.

Anders Bylund owns shares of Micron Technology. The Motley Fool recommends Cirrus Logic. Try any of our Foolish newsletter services free for 30 days.

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