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Friday, Jul 20
2012, 4:30 PM
Cypress Semiconductor (CY -6.7%) tumbled to fresh 52-week lows as the Street digested the...
Cypress Semiconductor (CY -6.7%) tumbled to fresh 52-week lows as the Street digested the chipmaker's Q2 revenue miss and (especially) soft Q3 guidance. Rival Atmel (ATML -5.2%) also fell. UBS is worried Cypress' touchscreen controller business, which many once had high hopes for, now resembles some of its other chip businesses, such as USB controllers and capacitive sensors. Those businesses typically carry low margins, and are highly competitive.