Cramer's View on Cypress Semiconductor Corporation (NYSE: CY)

Jim Cramer had included Cypress Semiconductor Corporation (NYSE: CY) in his list of top mobile Internet stocks but since then Cypress Semiconductor has declined by 13%.

Cypress Semiconductor touch-screen business has gained for cell phones and notebook computers. Cypress designs are also used by the top five handset equipment manufacturers. With the help of Cypress, the touch screen business was launched earlier than its expected time which helped in boosting the business.

Even though Cypress declined by 13%, Cramer does not wants to change his views about Cypress and still feels it will soar in the coming days. But it still remains in doubt whether Cypress will be able to live up to Cramer’s expectations.

Cypress Semiconductor Corporation (NYSE: CY) gained 3.42% at $9.38 in the pre-market trading. The 52 week trading range for the stock is $2.54 - $11.66.