Market Overview

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

Related CY
Cypress' TrueTouch Gen5 Touchscreen Controller Chosen by ZTE - Analyst Blog
Sterne Agee Believes IDEX Partnership Would Benefit Cypress Semiconductor Corporation

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.

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

 

Most Popular

Related Articles (CY)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free