Cypress Semiconductor Corporation’s (CY) Price Target Raised

Analyst Suji De Silva at Kaufman Bros. has raised the price target for Cypress Semiconductor Corporation from $13 to $15. The price target has been raised due to increasing confidence in the company’s growth opportunities.

Kaufman Bros. has also raised 2011 estimates for revenue, and EPS, while leaving estimates for 2010 unchanged. Kaufman has raised revenue estimate from $888 million to $907 million, while EPS estimate has been raised from $0.73 to $0.80. Kaufman expects the company to report above seasonal revenue growth over the next few quarters. It also expects operating margins to expand steadily.

Kaufman Bros. has maintained its Buy rating for Cypress Semiconductor Corporation.