Wedbush Maintains Neutral On Cypress Semiconductor Shares, $9 PT
In a research report issued today, Wedbush analyst Betsy Van Hees maintained a Neutral rating on Cypress Semiconductor (NASDAQ:CY) with a price target of $9.
Hees observed, “Cypress Semiconductor (CY) reported in-line Q3 results in-line with expectations with a guide down for Q4 that came as no surprise and better than feared. Management noted the Q4 guide was lower due to slowing in distribution and weakness in mobile handsets. CY’s overall Q4 Book-to-Bill (B:B) ratio was below unity at 0.85, but still slightly better than seasonal. While CY believes that the slowing in demand is largely due to seasonality, management noted that the trend going into mid November would be a better indicator as to whether or not it was more than just seasonal weakness that it was seeing.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Betsy Van Hees has a total average return of 13.2% and a 43.6% success rate. Van Hees has a -2.6% average return when recommending CY, and is ranked #291 out of 3337 analysts.