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Cypress affirms Q4 guidance, buyback plans; shares +4.7%

Jan. 21, 2016 8:27 AM ETCypress Semiconductor Corporation (CY) StockBy: Eric Jhonsa, SA News Editor
  • Ahead of its Jan. 28 Q4 report, Cypress Semi (NASDAQ:CY) has affirmed the Q4 guidance it issued on Oct. 22, during the company's Q3 earnings call.
  • The microcontroller/memory maker also says it will open its buyback trading window tomorrow, and has affirmed its $450M buyback authorization (also announced on Oct. 22).
  • Cypress has risen to $8.00 premarket. Low expectations - shares had fallen to new 52-week lows amid a steep market selloff - appear to be helping.

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Cypress Semiconductor Corporation