Market Overview

UPDATE: Blaylock Robert Van Downgrades Cypress Semiconductor to Hold on Valuation, Share Headwinds

Share:
Related CY
Needham Slashes Semiconductor Estimates On 'Muted' Second Half Recovery
Benzinga's Top Initiations
10 Top Technology Dividend Dogs Score 24% To 59% Upsides And 26% To 63% Net Gains As Of July 27 (Seeking Alpha)

Blaylock Robert Van reduced its rating on Cypress Semiconductor (NASDAQ: CY) from Buy to Hold with a reiterated $12 price target.

Blaylock Robert Van said, "If Atmel wins Galaxy S IV, Samsung will likely use Melfas' touch solutions for its mid-low end models, which could negatively impact Cypress share at Samsung. Further, from our recent Asian trip, we still have not heard many TrueTouch design wins for smartphones and tablets, and still no progress for TrueTouch at Win 8 notebooks. While Cypress expects sales of TrueTouch to grow 15% to 25% this year, we believe share loss at Samsung could prevent TrueTouch growth."

Cypress Semiconductor closed at $11.18 on Friday.

Latest Ratings for CY

DateFirmActionFromTo
Jul 2015Morgan StanleyInitiates Coverage onOverweight
Jul 2015Credit SuisseReinstatesOverweight
Jul 2015BarclaysInitiates Coverage onOverweight

View More Analyst Ratings for CY
View the Latest Analyst Ratings

Posted-In: Blaylock Robert VanAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (CY)

Get Benzinga's Newsletters