CYPRESS Semiconductor (CY) Message Board

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Technology Stocks : CYPRESS Semiconductor (CY)

CY 23.82

0.0%

Apr 16 5:00 PM EST

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To: jelrod3 who wrote (2343)	12/16/1999 9:04:00 PM
From: Ted The Technician	Read Replies (1) of 2694

Tuesday December 14, 10:37 am Eastern Time RESEARCH ALERT - Cypress Semiconductor NEW YORK, Dec 14 (Reuters) - Merrill Lynch said it raised its investment rating on Cypress Semiconductor Corp. (NYSE:CY - news) to a near-term buy from accumulate. -- Raised its fiscal 2000 revenue estimate to $975.0 million from $925.0 million and earnings estimate to $1.50 a share from $1.38. -- Said Cypress has seen a strong orders pattern thus far in Q499, with particularly strong demand for static random access memories (SRAMs) and PC peripheral products. -- Analyst Eric Rothdeutsch said, ``Virtually all of CY's products are on allocation, leading us to believe that the company will enter the first quarter at least 95 percent booked and giving us confidence that little end-customer inventory has been built given the short supply of the company's products.' -- Raised intermediate-term price target to $41 a share from $37, or 27.3 times its fiscal 2000 earnings estimate. -- Shares trading at 27-5/8, up 13/16, in early dealings on the New York Stock Exchange.

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