Nomura Hopeful Cypress (CY) Decline Has Stabilized
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March Quarter Could be Bottom for Cypress Semi (CY) - RBC
January 8, 2013 12:33 PM ESTRBC Capital's Doug Freedman cut his price target on Cypress Semi (NASDAQ: CY) from $15 to $13 but kept an Outperform rating following today's negative Q4 pre-announcement.
The analyst notes sales were particularly soft during the final 2-weeks of December where sales waned at distributors across all... More
Cypress Semiconductor Corp. (CY) Issues Q4 Warning
January 8, 2013 8:04 AM ESTCypress Semiconductor Corp. (NASDAQ: CY) today provided preliminary, unaudited fourth quarter financial results.
The anemic macro environment impacting the semiconductor industry continued in Q4, and in the last two weeks of December we saw further weakness, mainly within our distribution channels, as customers across all geographies and end markets purchased less product than previously was forecasted by our distribution partners, said Brad Buss, Executive Vice President and Chief Financial Officer. This resulted in a negative impact to Q4 revenue that was greater than we expected.
All divisions will decline sequentially from Q3... More
