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Fly News Breaks for May 23, 2018
CY
May 23, 2018 | 08:54 EDT
Cowen analyst Karl Ackerman initiated Cypress Semiconductor with an Outperform and $21 saying its IoT asset is the "crown jewel" and the market is only valuing the memory business at 5x CY18 earnings versus peers at 8x. Ackerman believes memory margins are far from peaking and revenues should growth through 2020, versus expectations for a low single-digit decline.
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