Needham analyst Rajvindra Gill raised his price target on Cypress Semiconductor to $20 and kept his Buy rating to reflect his "stronger conviction" for the company's margin profile and his favorable sales mix outlook. In spite of the 25% year-to-date rise, the analyst points to the stock trading near a multi-year price-to-earnings lows, along with the company's "defensible technological barriers in Wi-Fi/Bluetooth Low Energy, high-density NOR memory, and PSoC microcontroller." Gill further believes that Cypress Semi is well positioned in the Internet of Things, auto, and industrial industries experiencing secular growth.