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CY

Cypress Semiconductor

$13.14

-0.23 (-1.72%)

14:33
06/18/17
06/18
14:33
06/18/17
14:33

Cypress Semiconductor publicizes settlement proposal with activist group

Cypress Semiconductor issued Saturday the following statement regarding the status of settlement discussions with T.J. Rodgers, who was forced to resign as CEO in April 2016, and CypressFirst: "From the beginning, we recognized that a prolonged proxy contest would be a costly distraction and have attempted to resolve this situation in a constructive manner. In response to stockholder inquiries, we have decided to make public our final settlement proposal to T.J. Rodgers and CypressFirst, which is not subject to any confidentiality restrictions. Our final proposal includes expanding Cypress' board to eight members and immediately adding Dan McCranie and Camillo Martino, who will be appointed to appropriate committees. Importantly, the proposal is consistent with our position that any settlement agreement must include durable and meaningful standstill and non-disparagement provisions, lasting through Cypress' 2019 Annual Meeting."

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CY Cypress Semiconductor
$13.14

-0.23 (-1.72%)

05/24/17
BOFA
05/24/17
NO CHANGE
Target $18
BOFA
Buy
Cypress Semiconductor remains a top SMidcap pick at BofA/Merrill
BofA/Merrill analyst Vivek Arya said the recent pullback in Cypress shares due to near-term concerns regarding autos exposure and lack of a margin raise at the analyst day provides a buying opportunity. The analyst said Cypress offers diversified growth in a solid demand environment, operating leverage and potential for earnings to double over the next 2 years, improving execution, a 3.3% dividend, and potential M&A benefits.
05/09/17
05/09/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Brookfield Renewable (BEP) initiated with an Outperform at Wells Fargo. 2. Azul (AZUL) initiated with a Buy at Citi and an Outperform at Raymond James. 3. Nabors Industries (NBR) resumed with a Buy at Citi. 4. Turkcell (TKC) initiated with a Hold at Berenberg. 5. Cypress Semiconductor (CY) initiated with an Overweight at Stephens. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/17
SPHN
05/09/17
INITIATION
SPHN
Overweight
Cypress Semiconductor initiated with an Overweight at Stephens
05/01/17
LOOP
05/01/17
NO CHANGE
Target $16
LOOP
Buy
Cypress Semiconductor weakness a buying opportunity, says Loop Capital
Loop Capital analyst Betsy Van Hees noted that Cypress Semiconductor gave a mixed Q2 outlook, though she believes the company is seeing broad based improvements in demand and recommends Friday's weakness be used to add to positions, as Q1 results topped expectations and her long-term thesis remains intact. Van Hees keeps a Buy rating and $16 price target on Cypress Semiconductor shares.

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ADS

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