Yes, with Motley Fool on Mondays comments about Cypress below looks like only a matter of time till the stock goes up,up and away. See below.
"As dpddelta also noted:
[T]he semiconductor portion of the company is about to get super hot. Their new Westbridge chip allows a cell phone to download or upload to a computer USB port about 50% faster than any other chip. The Westbridge is installed in [Research in Motion's (Nasdaq: RIMM) new] Blackberry and independent third parties have measured it's download speed at about twice the download speed of the I-Phone or any other cell phone. Cypress has a historic relationship with Apple (Nasdaq: AAPL). They have a chip in the nano. So I expect cell phone makers to beat a path to Cypress's door.
Technology aside, the valuation on Cypress also looks pretty good. An operating loss plus a massive $357 million writedown of goodwill last quarter currently have Cypress trading without a P/E. But from a free cash flow perspective, Cypress appears very, very cheap. The company generated $176.5 million in free cash flow last year, which at last Friday's price means the stock sells for less than 4.8 times that amount.
Nor was 2008 a fluke. Cypress has generated positive free cash flow in five of the last six years. (Its former SunPower subsidiary, in contrast, habitually burns cash -- a trait shared by peers Suntech (NYSE: STP), First Solar (Nasdaq: FSLR), and nearly every other major player in the solar biz.) Cypress's habit of generating cash also positions the company well to weather a downturn. Cypress currently has $205 million in cash on its books, or 24% of its market cap.