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Friday, Oct 19
2012, 11:45 AM
Cypress Semi (CY -3.7%) is adding to the 8% drop it saw yesterday following its Q3 report:...
Cypress Semi (CY -3.7%) is adding to the 8% drop it saw yesterday following its Q3 report: though results weren't bad, the chipmaker guided on its earnings call for Q4 revenue of $186M-$192M and EPS of $0.12-$0.15 (after accounting for the Ramtron acquisition), below a consensus of $198M and $0.17. Cypress also mentioned its book-to-bill was a mere 0.81. Nomura is staying positive, touting Cypress' operating leverage, dividend, and buybacks. Rivals are also lower: ATML -3.1%. IDTI -3.5%.