Market Overview

UPDATE: Sterne Agee Reiterates Buy Rating, Lowers PT on Cypress Semiconductor Corporation

Share:
Related CY
Cypress Semiconductor CEO: Sector Consolidation Is Driven By Costs
Needham Slashes Semiconductor Estimates On 'Muted' Second Half Recovery

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating on Cypress Semiconductor Corporation (NASDAQ: CY), but slightly lowered its price target from $15.00 to $14.00.

Sterne Agee noted, “CY preannounced its 4Q yesterday, noting significant weakness globally in the month of December in all lines of their operations - we believe precipitated by fiscal cliff uncertainties. CY noted weakness in Dec but noted stabilizing booking trends toward end of Dec CY noting 1Q should be the bottom and sees new products ramping in 2Q13, with better design win activity in touch for handset and into Emerging China. Lowering our estimates on weaker 4Q12.”

Cypress Semiconductor Corporation closed on Tuesday at $10.12.

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: Sterne Agee GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (CY)

View Comments and Join the Discussion!

Get Benzinga's Newsletters