UBS Lowers Numbers on Cypress Semi (CY); Flat 2H = Range-Bound Shares
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Price: $11.48 +2.23%
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade CY Now!
UBS maintains a 'Neutral' on Cypress Semi (NASDAQ: CY) price target of $11.50 (from $13.75).
Analyst, Steven Eliscu, said, "CY 2Q results were slightly below our estimates, but guidance for flat 3Q sales is well below our prior expectations for product cycle driven touch controller growth supported by modest increases in its other businesses. While we expect a 2013 rebound in touch, Cypress’s touch business has taken on the character of its other areas as capacitive sensing, PSoC 1 and USB – lower-end niches with decent growth prospects that require unique IP, strong customer relationships and a low cost structure."
UBS cuts FY12 EPS estimate from $0.27 to $0.10 and FY13 from $0.56 to $0.33.
For an analyst ratings summary and ratings history on Cypress Semi click here. For more ratings news on Cypress Semi click here.
Shares of Cypress Semi closed at $11.59 yesterday, with a 52 week range of $11.06-$22.64.
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Analyst, Steven Eliscu, said, "CY 2Q results were slightly below our estimates, but guidance for flat 3Q sales is well below our prior expectations for product cycle driven touch controller growth supported by modest increases in its other businesses. While we expect a 2013 rebound in touch, Cypress’s touch business has taken on the character of its other areas as capacitive sensing, PSoC 1 and USB – lower-end niches with decent growth prospects that require unique IP, strong customer relationships and a low cost structure."
UBS cuts FY12 EPS estimate from $0.27 to $0.10 and FY13 from $0.56 to $0.33.
For an analyst ratings summary and ratings history on Cypress Semi click here. For more ratings news on Cypress Semi click here.
Shares of Cypress Semi closed at $11.59 yesterday, with a 52 week range of $11.06-$22.64.
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