Cypress Semiconductor Corporation (NASDAQ:CY) announced its easy-to-use, single-mode PSoC® 4 BLE Programmable System-on-Chip and PRoC™ BLE Programmable Radio-on-Chip solutions are the world’s first to achieve full-featured Bluetooth 4.2 qualification, which includes three key benefits for the Internet of Things (IoT). The benefits include:
- Data-Length Extension – A maximum data rate of 800 Kbps, 2.5 times faster than Bluetooth 4.1
- LE Privacy – Upgraded privacy that allows a user to designate trusted transmission sources and prevent tracking
- LE Secure Connections – Enhanced user security during connection setup to avoid eavesdropping attacks.
These features enable Cypress’s Bluetooth Low Energy solutions to address a broader range of applications for the IoT. More information on the Cypress Bluetooth Low Energy portfolio is available at http://www.cypress.com/ble.
“Adding Bluetooth 4.2 to PSoC 4 BLE and PRoC BLE enables our customers to create faster, smarter and more secure products,” said Eran Sandhaus, Vice President of the Wireless Product Family at Cypress. “The higher throughput of our Bluetooth 4.2 solutions allows OEMs to develop new capabilities such as multi-channel audio transmissions over BLE. They maintain user privacy for medical and wearable devices, and they bring true security to IoT applications such as secure locks and secure payments.”
PRoC BLE is a low-power Bluetooth Smart microcontroller with Cypress’s industry-leading CapSense® capacitive touch-sensing functionality, while PSoC 4 BLE offers expanded design flexibility by adding intelligent analog and programmable digital blocks that enable simplified integration with sensors and actuators. Both solutions integrate a Bluetooth Smart radio, a high-performance 32-bit ARM® Cortex®-M0 core with ultra-low-power modes, 256KB flash memory, 32KB of SRAM, direct memory access (DMA) capability, 36 GPIOs, and customizable serial communication blocks, timers and counters. Customers designing with the solutions can apply to add the Bluetooth logo on their products by referring to Cypress’s qualification identification number.
“Bluetooth 4.2 addresses the need for a fast, efficient, and secure connection to the trillions of sensors that will be deployed for a wide range of IoT applications,” said Jim McGregor, Principal Analyst at TIRIAS Research. “Cypress’s full-featured Bluetooth Low Energy solutions will enable developers to quickly bring secure solutions to market.”(Original Source)
Shares of Cypress Semiconductor are up 1.30% to $10.87 in pre-market trading. CY has a 1-year high of $16.25 and a 1-year low of $8.11. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $10.79.
On the ratings front, CY has been the subject of a number of recent research reports. In a report issued on November 12, Mizuho analyst Vijay Rakesh maintained a Buy rating on CY, with a price target of $18, which implies an upside of 67.8% from current levels. Separately, on October 23, Needham’s Rajvindra Gill reiterated a Buy rating on the stock and has a price target of $12.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vijay Rakesh and Rajvindra Gill have a total average return of 30.4% and 18.2% respectively. Rakesh has a success rate of 70.7% and is ranked #13 out of 3642 analysts, while Gill has a success rate of 61.5% and is ranked #34.
Overall, 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $14.40 which is 34.2% above where the stock closed yesterday.
Cypress Semiconductor Corp with its subsidiaries, designs, develops, manufactures and markets high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and system value.