Needham & Company Reiterates Buy on Cypress Semiconductor (CY) After Meeting with Management
Get Alerts CY Hot Sheet
Rating Summary:
10 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Needham & Company reiterated a Buy rating and $14.00 price target on Cypress Semiconductor (NASDAQ: CY) after meeting with management.
Analyst Rajvindra Gill commented, "Yesterday we sat down with CEO, Mr. Hassane El-Khoury, and CFO, Mr. Thad Trent of Cypress to discuss the company's recent initiatives. Cypress produces SoCs, microcontrollers, analog IC's, and connectivity solutions (wireless and USB) for the IoT segment. Cypress announced the world's first USB-C to HDMI connection as well as a partnership with Verizon utilizing the recently acquired Broadcom WICED platform.We believe that the company is on track to achieve GMs of 43% exiting 2017 and 48% exiting 2018. Long term CY is positioned to grow in the midsingle digits."
For an analyst ratings summary and ratings history on Cypress Semi click here. For more ratings news on Cypress Semi click here.
Shares of Cypress Semi closed at $11.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
- Analysts questions why you would buy Meta Platforms (META) stock
- Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!