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Touchscreen controller firms Cypress Semi (CY +5.5%) and Atmel (ATML +1.9%) rally after...

Touchscreen controller firms Cypress Semi (CY +5.5%) and Atmel (ATML +1.9%) rally after Needham's Rajvindra Gill upgrades shares to Buy. Cypress is down ~50% since Needham's Jan. '12 downgrade, Gill points out, and the chipmaker will benefit from a restructuring, Chinese phone exposure, a strong e-reader position, and a pickup in telecom equipment SRAM demand. He expects Atmel to benefit from touch notebook demand, improving margins, a possible Samsung Galaxy S IV win, and its xSense touchscreen tech. Rival Synaptics (SYNA +2%) is also up.
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