Jefferies & Company Rates Cypress Semiconductor (CY) A Buy

Jefferies & Company analysts Adam Benjamin, Blayne Curtis and Richard Grasfeder rated shares of Cypress Semiconductor Corporation (Nasdaq: CY) a Buy, with a price target of $14.

The analysts said that they have increased confidence in Cypress Semiconductor Corporation's competitive positioning in the capacitive touchscreen controller market.

The Jefferies & Company analysts wrote, "Our checks suggest Cypress is getting significant design traction at OEMs such as HP and Acer but that 2010 is likely more a design year for these devices with material volumes not until 2011."