This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at email@example.com or call 800-767-3771 ext. 9339.
For Immediate Release
Chicago, IL – September 25, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Cypress Semiconductor Corporation (CY - Analyst Report), Ramtron International Corp. , Texas Instruments Inc. (TXN - Analyst Report), Atmel Corporation (ATML - Analyst Report) and Synaptics (SYNA - Snapshot Report).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday’s Analyst Blog:
Cypress Finally Acquires Ramtron
Cypress Semiconductor Corporation (CY - Analyst Report) recently announced that it has finally reached an agreement to buy Ramtron International Corp. for $3.10 per share in cash. The deal is expected to close by the end of the calendar year.
This was Cypress’ fourth attempt in more than one year to take over its peer Ramtron International. The deal represents a premium of 71% to Ramtron’s closing price of $1.81 per share on June 11. The offer translates into a purchase price of about $109.8 million.
The first public offer of $2.48 per share was made in June, which was rejected stating that it was inadequate and not in the best interest of Ramtron’s shareholders.
Ramtron International is a fabless semiconductor company with about 34.0 million shares outstanding. It supplies ferroelectric random access memories and has Texas Instruments Inc. (TXN - Analyst Report) and Toshiba Corp. as manufacturing partners. In the second quarter of 2012, Ramtron reported revenue of $14.2 million with a net profit of $69,000.
We believe the deal makes sense for Cypress for a number of reasons. First, Ramtron is a fabless company and would fit very well into Cypress’ low capex manufacturing strategy. Being a fabless company, Ramtron relies on partners for manufacturing, assembly and testing of products that offer superior technology and services at competitive prices.
Second, Ramtron’s ferroelectric-RAM (F-RAM) will likely supplement Cypress’ Memory Products Division, which includes Asynchronous SRAMs, Synchronous SRAMs and nvSRAMs, and provide a longer-term roadmap for its non-volatile memory market. Ramtron’s F-RAM enables read-writes with very little delay, low power consumption, and high endurance with limited memory loss.
The F-RAM is also competitive with some of the newer technologies such as Phase-change-RAM. The Memory Products Division segment generated 41% of revenue in the second quarter and was up 1.3% sequentially. The sequential increase came on the back of strong demand in the static random access memory (SRAM) business.
The impact of the deal on Cypress’ financials is unknown but it will definitely bring synergies on the sales side.
Cypress is a semiconductor company offering high-performance, mixed signal, programmable solutions. In the second quarter, Cypress reported earnings of 5 cents, beating the Zacks Consensus Estimate of 3 cents. Higher touch sales, improved gross margins and tight operating expense control contributed to the upside in earnings.
Cypressoperates in a highly competitive market. In the touchscreen market, the company competes with Atmel Corporation (ATML - Analyst Report) and Synaptics (SYNA - Snapshot Report).
Currently, Cypress has a Zacks #3 Rank, implying a short-term Hold rating.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339