Analyst Actions: Cypress Semiconductor, Micron, Broadcom, Redback

Prudential Securities

downgraded

Cypress Semiconductor

(CY) - Get Report

to accumulate from strong buy. The firm believes further upward estimate revisions are unlikely and that visibility for future quarters is not as strong as it has been for the last several quarters. Prudential also cut its price target to $42 from $75.

Micron Technology

(MU) - Get Report

was upgraded to strong buy from buy and its 12-month price target was upped to $50 from $40 at

Banc of America

, but its 2001 EPS estimate was downgraded to $2 from $3.70 at

ABN Amro

.

Upgrades

MGM Mirage

(MGG)

: UP to buy from neutral at

Salomon Smith Barney

.

Public Service Enterprise Group

(PEG) - Get Report

: UP to buy from add at ABN Amro.

Downgrades

Altera

(ALTR) - Get Report

: fourth-quarter EPS view to 31 cents from 32 cents at

Lehman Brothers

and 2001 EPS estimate to $1.40 from $1.45.

Broadcom

(BRCM)

: price target DOWN to $200 from $300 at Salomon.

Xilinx

(XLNX) - Get Report

: 2001 EPS view DOWN to $1.28 from $1.30 at Lehman and 2002 EPS view down to $1.72 from $1.82.

Initiations

BEA Systems

(BEAS)

: NEW buy at

UBS Warburg

; price target: $75.

Energy Partners

(EPL)

: NEW intermediate and long-term buy at

Merrill Lynch

; 12-month price target: $19.

Inverness Medical Technology

(IMA)

: NEW buy at UBS Warburg: price target: $44.

Redback Networks

(RBAK)

: NEW buy at

W.R. Hambrecht

; price target: $120.