Attached is an excerpt from the Motely Fool as related to the the Cantor Fitzgerald "upgrade" from Sell to Hold! Posted today 07/23/12.
""We begin with Cypress Semi, which last week disappointed investors with Q3 guidance that fell below expectations. Q3 revenue, says the company, will be basically flat, with earnings of no more than $0.21 versus Street expectations of $0.26 -- and only "pro forma" earnings at that.
Scary? Apparently so, and the shares are down 7.5% since earnings as a result. But now that the bad news is "priced in," Cantor Fitzgerald thinks it's time to jump back into the stock: "We are upgrading the shares of Cypress to Hold as the shares reached our [expected decline]. We believe that the downside is probably limited from here and that there is the potential that 4Q:12 will be better than we currently project."
It had better be, because if all Cypress can manage is more of the same -- earnings that now have the stock trading at a nosebleed 32 P/E -- then this stock could be headed for some rough times. Most analysts think Cypress will be stuck around 12% annual growth levels for the foreseeable future, which is far too low to support a valuation this high. If they're right, and Cantor is wrong ... look out below.""