Thursday, October 05, 2006

Cypress Semi (CY) Sees Upside Action on Various Chatter

Cypress Semiconductor (NYSE: CY) has been seeing interest the past few sessions on rumors the company could be the target of a private equity buyout. In addition, rumors are abound the company may distribute its ownership in SunPower Corporation (Nasdaq: SPWR) to shareholders. SPWR was spun-off from CY last year.

Shares of CY are up 3% in mid-day action today, with volume running well ahead of normal. The stock was up 6.2% yesterday, also on heavier-than-normal volume.


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