Sterne Agee Believes IDEX Partnership Would Benefit Cypress Semiconductor Corporation

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In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Buy rating and $13.00 price target on
Cypress Semiconductor CorporationCY
. In the report, Sterne Agee noted, “We believe a strategic partnership with IDEX to do fingerprint(FP) area sensors by 1Q15 could be a positive step forward for CY. We believe CY will be an exclusive foundry for IDEX's 2nd-gen FP area sensors to provide a discrete and a touch-integrated FP solution to the market by 1Q15. Near-term with the Note4 and Galaxy S6 we believe legacy FP area sensor providers such as FPC could continue to be competitive in the FP area sensor market.” Cypress Semiconductor Corporation closed on Tuesday at $10.32.
Posted In: Analyst ColorReiterationAnalyst RatingsSterne AgeeVijay Rakesh
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