Barclays Downgrades Cypress Semi (CY) to Equalweight

Barclays downgraded Cypress Semi (NASDAQ: CY) from Overweight to Equalweight with a price target of $17.00 (from $18.00).

Analyst Blayne Curtis steps aside noting most of the upside catalysts have played out and sees better areas for outperformance of portfolios. The analyst remains impressed with management but sees risks to the 48% gross margin target in 2018 as "fabs are already fairly full and memory pricing is not have as much of a benefit as we would like."

For an analyst ratings summary and ratings history on Cypress Semi click here. For more ratings news on Cypress Semi click here.

Shares of Cypress Semi closed at $16.31 yesterday.

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