Nomura Securities Maintains a 'Buy' on Cypress Semi (CY); Raising PT and Estimates

Nomura Securities maintains a 'Buy' on Cypress Semi (NASDAQ: CY) price target raised from $18 to $20.

Analyst, Sidney Ho, said, "Solid Q2 outlook and a rebound in bookings support our view that business has troughed and growth should accelerate for the next few quarters. Inventory restocking could be an additional driver. Commentary on touch is encouraging and bodes well for Atmel (Nasdaq: ATML)(reports May 2). Our Q2 EPS estimate increases from $0.16 to $0.19, and our estimate increases from $0.87 t0 $0.96 for 2012, and from $1.30 to $1.40 for 2013."

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 $16.00 yesterday.

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