CY.. New 52 week high, reports the 25th time for a small correction but CY is our only stock looking at 4 digit growth sort of the "best of show" of earnings plays and best candidate for both intermediate and long term hold. EPS % Chg. Last Qtr 1050% (the reporting quarter> . and the year 338%.
SAN FRANCISCO, Jan 12 (Reuters) - Robertson Stephens said Wednesday it had raised its earnings estimates for Cypress Semiconductor Corp. as the maker of integrated circuits enjoyed better revenues than expected.
-- "We are taking our earnings-per-share estimates for fourth quarter from $0.28 to $0.31 and for 2000 from $1.35 to $1.50," read a research note by analyst Daniel Niles.
-- Niles, which has a buy rating for the company, also said he was setting a $40 price target for the stock for 2000.
-- Shares in Cypress, which made an optimistic forecast about its operations in October, were up 2-5/8 at 33-11/16.
-- "We believe that this is being driven by higher revenues, better gross margins and lower expenses than originally anticipated. In addition, we believe that the outlook is strong driven by a book-to-bill, which exceeded 1.2."
-- "Cypress' problem continues to be supply and not demand. We believe these new estimates continue to be cautious."
-- "In addition, Cypress is also acquiring Galvantech, a leader in high-performance SRAMs for the datacom market, for 3.6 million Cypress shares. "Galvantech should add at least $60 million in revenues to our 2000 estimates and at least $0.05 to our earnings-per-share estimates when the deal closes in late February."
-- On Oct. 27, Cypress of San Jose, Calif., told Reuters it would outperform the industry's 1999 worldwide revenue growth of 12 percent by a factor of two. It projected its revenues totaling up to $200 million in the fourth quarter. |
