Cypress Semiconductor Corporation (NASDAQ: CY) — This international semiconductor company provides high-performance, mixed-signal, programmable chips for touch-screen and other sophisticated operations.
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The stock has been in a bull market for years. It rose from under $5 in late 2008 to a high of almost $14 in late April.
Early this year, the stock broke from a six-month consolidation and surged from a spread double-top at around $11.50, following a four-month period of very heavy accumulation.
On April 21
, I set the trading target for CY at $15 to $16. Longer term that target is attainable, but recent tape action confirms that the shorter-term trading target is $13.50.
Ford Equity Research has a “buy” recommendation on CY.
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