UPDATE: Wunderlich Securities Initiates Coverage on Cypress Semiconductor Corporation

Wunderlich Securities has published a research report on Cypress Semiconductors Corporation CY initiating coverage on the company with a Buy rating. In the report, Wunderlich Securities wrote, "Cypress's unique programmable microcontroller solutions, or "Programmable System on a Chip" (PSoC), offers superior ease of use and design capabilities for engineers across an extremely broad and diverse group of markets. Within PSoC are the company's TrueTouch products, which provide capacitive touch controller solutions that have expanded rapidly with design win ramps at multiple smartphone and tablet platforms." Wunderlich Securities rated Cypress a Buy with a price target of $25.00. Cypress Semiconductor closed Wednesday at $17.51.