Cypress Semiconductor Corporation (NASDAQ:CY), a global leader in controllers for car infotainment systems, and MyScript, an industry pioneer in automotive HMI technologies, have joined forces to include MyScript’s intuitive and precise handwriting recognition technology to automotive designers worldwide powered by Cypress’s Traveo™ microcontroller (MCU) family. MyScript’s automotive HMI input method technology enables a low-distraction user interface. Drivers can write characters or numerals, or simply gesture with their fingertips on a touchscreen or touchpad to quickly and discreetly accomplish important tasks, such as selecting a destination, making a telephone call or noting information. Cypress offers TrueTouch® capacitive touchscreen and touchpad solutions with industry-leading resistance to electrical noise, glove touch and water resistance, which combine with the Traveo MCU solutions to enable innovative and robust automotive HMI.
“We are excited to partner with Cypress to bring the benefits of handwriting input to the Traveo MCU family and significantly enhance the driver user experience,” said Olivier Cros, Director of Global Automotive Sales at MyScript. “The joint integration development activity will bring MyScript’s award winning automotive HMI solutions to the compact automotive segment, expanding the number of drivers that can now enjoy the benefits of a low-distraction input method within the vehicle.”
Cypress and MyScript have been working together in the automotive market achieving several large successes and are now intensifying their activities together to bring a faster time-to-market solution to automotive developers for dashboards, navigation, head-up displays and HVAC systems in vehicles.
“Our partnership with MyScript marks another example of Cypress’s commitment to bring innovative HMI automotive systems to the mass market,” said Nils Bossemeyer, Systems Application Engineering Manager for Automotive Microcontrollers at Cypress. “This partnership adds to our ability to serve as a one-stop resource for our automotive customers, combining our Traveo MCU family and MyScript’shandwriting input technology together with our broad line of memory products, PMICs, TrueTouch® touchscreen controllers and CapSense® touch-sensing HMI solutions.”
Integration of the new Traveo family members with the award-winning MyScript handwriting input recognition technology will streamline design timelines and greatly enhance the driving experience. A unified effort will embed handwriting recognition together with the latest Traveo MCUs offerings, which represent another step forward in bringing the luxury car user experience to the mass market. By offering a high-performance and scalable platform, Cypress customers can affordably deliver a high-end and non-distractive input method in compact vehicles. (Original Source)
Shares of Cypress Semiconductor closed yesterday at $10.37, down $0.24 or -2.26%. CY has a 1-year high of $12.85 and a 1-year low of $6.30. The stock’s 50-day moving average is $9.84 and its 200-day moving average is $8.83.
On the ratings front, Cypress Semiconductor has been the subject of a number of recent research reports. In a report issued on May 17, Needham analyst Rajvindra Gill reiterated a Buy rating on CY, with a price target of $12, which implies an upside of 15.7% from current levels. Separately, on April 28, Credit Suisse’s John Pitzer reiterated a Hold rating on the stock and has a price target of $9.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rajvindra Gill and John Pitzer have a total average return of 15.3% and 11.9% respectively. Gill has a success rate of 58.2% and is ranked #47 out of 3884 analysts, while Pitzer has a success rate of 67.7% and is ranked #120.