Cypress Semiconductor (NASDAQ:CY) was initiated with a buy rating and price target of $10 a share by Craig Hallum.

The stock is up 1.77% or $0.13 after the news, hitting $7.76 per share. About 5.05 million shares traded hands. Cypress Semiconductor Corporation (NASDAQ:CY) has declined 33.71% since July 20, 2015 and is downtrending. It has underperformed by 23.98% the S&P500.

Cypress Semiconductor Corporation provides mixed-signal programmable solutions, semiconductor memories, and integrated semiconductor solutions worldwide. The companyÂ’s Memory Products division designs and manufactures static random access memory (SRAM) products and nonvolatile RAMs used to store and retrieve data in networking, wireless infrastructure and handsets, computation, consumer, automotive, industrial, and other electronic systems; and general-purpose programmable clocks. Its Data Communications division focuses on universal serial bus (USB) controllers, Bluetooth low energy and wirelessUSB solutions, and module based solutions for trackpads and other user interface applications used in PC and peripheral, industrial automation imaging, security camera, and consumer devices, such as mobile handsets and set-top boxes.

The companyÂ’s Programmable Solutions division designs and develops programmable product offerings, including Programmable System-on-Chip (PSoC) devices used in various industrial applications, mass storage, household appliances, laptop computers, and toys; CapSense devices are used in applications that employ buttons or sliders, such as handsets and various other consumer, industrial, and automotive applications; TrueTouch touch-sensing/touch screen products used in mobile phones, tablets, e-readers, wearables, GPS, automobiles, digital cameras, and other mobile systems; and automotive products. Its Emerging Technology division provides wafer level chip scale packaging solutions and foundry services, as well as other development stage activities. The company sells its semiconductor products through distributors, manufacturing representative firms, and its sales force to original equipment manufacturers and manufacturers. It has a strategic foundry partnership with HuaHong Grace Semiconductor Manufacturing Corporation and United Microelectronics Corporation. The company was founded in 1982 and is headquartered in San Jose, California.

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