Cypress Semi Posts Solid Results Ahead of Its Infineon Acquisition
Cypress Semiconductor (NASDAQ: CY) released solid second-quarter 2019 results on Thursday after the markets closed. The semiconductor manufacturer once again highlighted revenue and earnings above the midpoints of its latest outlook ranges, led by the relative strength of its Wi-Fi and Bluetooth offerings to support growth in the lucrative Internet of Things (IoT) market vertical.
Of course, Cypress stock is little changed because the company recently agreed to be acquired at a hefty premium by Germany's Infineon Technologies (NASDAQOTH: IFNNY). But the acquisition isn't expected to close until the end of this calendar year or early 2020. So, in the meantime, let's take a closer look at what Cypress accomplished this quarter.
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