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Cypress Semicon (CY) Receives a Buy from Needham


Needham analyst Rajvindra Gill maintained a Buy rating on Cypress Semicon (CY) today and set a price target of $17. The company’s shares closed on Tuesday at $13.74.

Gill noted:

“This week we hosted an investor dinner in the CFO of Cypress Semiconductor (Thad Trent), SVP of MCD Division (Sudhir Gopalswamy) Director of IR (Colin Born). Based on our conversations, we’ve not seen a reacceleration in order rates from the company’s Chinese customers as most continue to take a wait and see approach given the tariff uncertainty. We are concerned that overall end demand is weakening in China given the slowing economy and adverse impact from the tariffs. While CY has not seen outright order cancellations and inventory remains lean in the channel, visibility into end demand remains murky. Net, despite valuations being at multi-year lows, we could see shares continue to trade sideways until supply chains are moved out of China and tariff uncertainty ends.”

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.4% and a 51.9% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Smart Global Holdings Inc, Everspin Technologies Inc, and Adesto Technologies Corp.

Cypress Semicon has an analyst consensus of Moderate Buy, with a price target consensus of $16.32.

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Cypress Semicon’s market cap is currently $4.97B and has a P/E ratio of 105.69. The company has a Price to Book ratio of 2.64.

Based on the recent corporate insider activity of 60 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.