Cypress Semicon (CY) Received its Third Buy in a Row


After Morgan Stanley and Needham gave Cypress Semicon (NASDAQ: CY) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Vivek Arya reiterated a Buy rating on Cypress Semicon yesterday and set a price target of $18. The company’s shares opened today at $14.58.

According to TipRanks.com, Arya is a 5-star analyst with an average return of 15.9% and a 54.7% success rate. Arya covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cypress Semicon with a $15.17 average price target, which is a 4.0% upside from current levels. In a report issued on January 17, Needham also maintained a Buy rating on the stock with a $16 price target.

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The company has a one-year high of $18.87 and a one-year low of $11.75. Currently, Cypress Semicon has an average volume of 4.71M.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.

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Cypress Semiconductor Corp. designs, develops, manufactures and markets a broad range of high-performance solutions for embedded systems, from automotive, industrial and networking platforms to highly interactive consumer devices.

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