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Even it for today's trick bounce there are still plenty of bargains to be found among the technology stocks that got way down by the implosion of Facebook and Twitter late last week heck Cypress Semiconductor CY for you. Home gamers it's the maker of programmable systems on a chip as well as chips for touchscreens microcontrollers really big business appliances Internet of Things memory chips for the auto market among other products after roaring last year the stock peaked in March because the Cypress gets 40 percent of its sales from China and Taiwan we got to find out about. That people concern about the trade war I suspect the Chinese government can't afford to crack down on American chip. Makers otherwise their tech industry would die on the vine and we know the company in petition is in great shape last Thursday night Cyprus reported the latest. In a string of better than expected course the company delivered a four cent earning speed off the 29 cent basis higher than anticipated revenue 5.1 percent year-over-year rapidly rising margins plus management gave us strong guidance for the next quarter that's why the stock surged up six percent on Friday it was the Nasdaq was down 1.5 percent. But I think that Cyprus would have rallied even harder if it hadn't reported right into the teeth of a panicked sell-off in the whole tech sector yep I bet this stock has more room to run but don't take it from me let's check in with Hasan. El Cory's the president CEO of Cyprus semi learning more about the quarter and where the company said Mr Al Cory welcome back to met money thank you thanks for having me again okay I want to drill right down immediately we know that there are trade issues we know that China is we're fighting back against China let's use the. Language that the president gives how concerned are you that this could hurt your business because I know our viewers will pay more for this dock if they just get a little more certainty about this issue look let me first give you my position about the whole trade and an IP also I. I personally am a big believer in free trade this really allows. Companies to innovate companies to compete on a very equal floor however with IP with innovation you need to have IP protection we are where we are and based on that we looked at what the impact is for Cyprus what. We walked on the call our revenue is about one and a half percent of revenue it will be impacted by the 25 percent tariffs you know it's not material obviously we're always monitoring this situation we're heavily involved with with the respective parties we're working on ways to minimize even that little 14.5 percent that we have that's direct impact. For Cyprus obviously we're all looking at what this would do for a on a macro level but for Cyprus directly I'm not very concerned about it it's minimal and we're of course trying to mitigate that minimal impact okay now you automotive which I like very much I know in your. Background before you even went into semiconductor Cyprus was automotive it represents 31% along with consumer 31% I know that autos allegedly because I'm not as bearish lordosis other people allegedly are slowing down but you're getting an increasingly larger portion of the auto what. Are some of the new accounts that you're getting which tells me not to worry about whether growth of autos are flat you're taking great share that's right I mean if you look at it we're both adding new content and also taking share from competition you know I've always said we're not we're. Immune to the saar fluctuation you know people talk and people are bearish on you know inventory and quarter-on-quarter automotive is a longer term view I mean we're talking about two to three year design. Cycle we have at Cyprus great visibility over the next three years we are winning instrument cluster which will solidify our number1 position we currently have we are winning in body electronics you. Know where a lot of people are spending money you know the features the comfort and convenience of that car that's where we play the content is accelerating even if we have concerns about this are we at Cyprus are a Content player where do people spend money today in the car infotainment they want. To have the same exact user experience when they walk in the car as when they walk in the home we introduced our SDB with our Wi-Fi product or real simultaneous dual band it allows everybody in the car to. Stream content to their own device from the cockpit while the driver keeps interacting with the car these are automotive innovations. That we bring in the consumer space where we also very strong son that's it that leads to my next question which I don't think. People realize how strong your consumer franchises Sonos Roku people love these stocks they love the products nest of course Apple Nintendo Amazon this consumer business this group of clients is the fastest growing group of clients imaginable so are you picking up even more business from these like if personas which is going to come public. And be wildly popular you play a key role in every Sonos device I mean absolutely if you look at the play and I want to focus not just on a product but really the. Cross selling play that we have our cross selling which is customers buying one or more or two or more. Products from Cypress has increased 11% so even when we have a footprint in a specific design getting more products into that same design and enjoying the growth on both product lines is a key focus for our strategy but we are across the board the. Beauty of it we are winning. New accounts we are winning new platforms but the key here is is really on the platform side you know I gave the example on Thursday of LG we introduced in 2017 the air conditioning with the LG platform the thinkyou voice enabled LG home appliance this quarter I talked about the. Washing machine that proliferation of the smart home devices the smart home and systems is really where we play. And the fact that we provide that proprietary connectivity which is at the heart of the IOT allows for that stickiness of that revenue even in those consumer applications one last question is we've got a run but. I look at your market cap of 6.5 billion and frankly if mystifies Minh you are playing in every fast-growing area you are taking share from everyone what the heck. Is your marketing why is it it's only six point. Five billion and don't you run the risk of being snapped up by someone bigger because you would bring them so many good clients you know for us we focus on our strategy we focus on the deployment obviously there's always the you know any incoming and. Any strategic aspect of any public company and of course we address that when it comes but our focus now is what we can control is the execution is the shareholder value creation which we've done very very well from where we started you know. I'm coming up on my two-year anniversary I think we've had a great ride our five-year plan and our strategy Cyprus. 3.0 is playing out exactly like we want it it's actually a little bit ahead of when I thought when I took over two years ago that is what the market is going to see you know our margin is expanding the market did not give us a lot of credit they. Thought we couldn't do it we've accelerated it we beat it and now the mark is I mean look at the how we traded on on Friday and a down market the market is starting to realize. There's value there there's value still to be unlocked and I can. Tell you myself and the management team are focusing on that extraction of value excellent and you're doing a great job of the congratulations on a terrific quarter that is Hassan you'll Cory presidency of Cyprus. Emmy CY would be up much more had it not reported during a. Tough period for technology stay with.

 


Cypress Semiconductor Company News

Sat, 04 May 2019 22:03:00 GMT
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