Topeka Capital Upgrades Cypress Semi (CY) to Buy
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Needham & Company Upgrades Cypress Semi (CY) to Buy Amid Spansion Deal
December 3, 2014 6:53 AM ESTNeedham & Company upgraded Cypress Semi (NASDAQ: CY) from Hold to Buy with a price target of $16 following the takeover of Spansion.
Analyst Rajvindra Gill commented, "We are upgrading Cypress to Buy from Hold and establishing a $16 PT following a day of trading... More
Feltl & Co Upgrades Cypress Semi (CY) to Buy Amid Spansion Deal
December 2, 2014 9:17 AM ESTFeltl & Co upgraded Cypress Semi (NASDAQ: CY) from Hold to Buy with a price target of $13.00 (from $11.00) after its plans to acquire Spansion (NASDAQ: CODE).
"We see CODE acquisition as potentially transformational, providing needed scale to both... More
Cypress Semiconductor (CY), Spansion (CODE) Enter $4B Merger Agreement
December 1, 2014 4:03 PM ESTCypress Semiconductor (NASDAQ: CY) and Spansion, Inc. (NYSE: CODE) announced a definitive agreement to merge in an all-stock, tax-free transaction valued at approximately $4 billion.
The combined company will:
Be a $2 billion global leader in microcontrollers and specialized memories for embedded systemsBe No. 1 worldwide in NOR Flash memoriesBe No. 1 worldwide in SRAM memoriesProvide significant EPS accretion with $135 million in annual synergiesProvide ~50% ownership each for Cypress and Spansion shareholdersPay an $0.11 per share quarterly dividend to all shareholdersHave T.J. Rodgers... More