Cypress Semiconductor (CY) Reports In-Line Q1 EPS
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Cypress to Acquire Broadcom's Wireless Internet of Things Business
April 28, 2016 8:03 AM EDTSAN JOSE, Calif. and SINGAPORE, April 28, 2016 /PRNewswire/ -- Cypress Semiconductor Corp. (Nasdaq: CY) and Broadcom Limited (Nasdaq: AVGO) today announced the signing of a definitive agreement under which Cypress will acquire Broadcom's Wireless Internet of Things (IoT) business and related assets in an all-cash transaction valued at $550 million. Under the terms of the deal, Cypress will acquire Broadcom's Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem. Broadcom's IoT business unit, which employs approximately 430 people worldwide, generated $189... More
Cypress Subsidiary Deca Technologies to Receive $60 Million Investment from ASE
April 28, 2016 8:03 AM EDTSAN JOSE, Calif., April 28, 2016 /PRNewswire/ --Â Advanced Semiconductor Engineering, Inc. (TAIEX: 2311) (NYSE: ASX) and Deca Technologies, a subsidiary of Cypress Semiconductor Corp. (NASDAQ: CY), today announced the signing of an agreement whereby ASE will invest $60 million in Deca and will license Deca's M-Series Fan-out Wafer-Level Packaging (FOWLP) technologies and processes. As part of the agreement, ASE and Deca will jointly develop the M-Series fan-out manufacturing process and will expand production of chip-scale packages using this technology. The technology is required... More
Cypress Reports First Quarter 2016 Results
April 28, 2016 8:02 AM EDTSAN JOSE, Calif., April 28, 2016 /PRNewswire/ -- Cypress Semiconductor Corp. (NASDAQ: CY) today announced its first quarter 2016 results, which included the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter included (all financial comments are based on non-GAAP results, unless otherwise noted):
Revenue of $425.2 million, in line with guidance 36.9% gross margin and $0.07 earnings per share, above the midpoint of guidance $150.4 million in realized annualized synergies, remaining ahead of our plan $182.5 million common stock repurchase, part of a $450 million repurchase program... MoreCypress CEO to Step Down
April 28, 2016 8:02 AM EDTSAN JOSE, Calif., April 28, 2016 /PRNewswire/ -- Cypress Semiconductor Corp. (NASDAQ: CY) today announced that its CEO, T.J. Rodgers, will step down this week and that a searchboth internal and externalwould be launched to replace him. In the interim, daily operational activities will be taken over by an Office of the CEO comprised of four current Cypress EVPs: Hassane El-Khoury (EVP, Programmable Systems Division), Dana Nazarian (EVP, Memory Products Division), Joe Rauschmayer (EVP, Manufacturing) and Thad Trent (CFO). Rodgers will remain on the Cypress Board and become a... More
