Cypress Semiconductor (CY) Stock Surges on Potential Sale
NEW YORK (TheStreet) -- Shares of Cypress Semiconductor (CY) - Get Report are up 5.60% to $11.50 in pre-market trading on Thursday as it works with Goldman Sachs (GS) to explore strategic options, sources told U.K. financial blog Betaville.
The San Jose, CA-based semiconductor company has reportedly received takeover interest from three private equity firms.
Summitview Capital, one of the interested firms, made an offer of $14 per share about three weeks ago, but Cypress rejected the bid because it was too low, Betaville adds.
TPG Capital is one of the two other firms interested in a deal.
Separately, TheStreet Rating team rates the stock as a "hold" with a ratings score of C.
Cypress Semiconductor's strengths such as its robust revenue growth, increase in net income and good cash flow from operations are countered by weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: CY
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.