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Why Cypress Stock Was Up 2.16% on Monday

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Cypress stock gained 2.16% on Monday

Cypress Semiconductor (CY) rose 2.16% on March 11 to $15.13 after the company received regulatory approval for its joint venture with SK Hynix. Cypress’s joint venture, SkyHigh Memory Limited, was announced on October 25 and is expected to begin full operations next month.

Cypress stock has risen 18.9% on a year-to-date basis as of March 11. Stocks of rivals NVIDIA (NVDA), Marvell (MRVL), Advanced Micro Devices (AMD), Intel (INTC), Micron (MU), and Broadcom (AVGO) have risen 20.8%, 19.7%, 24.4%, 14.4%, 23%, 5.8%, respectively, in the same period. However, Qualcomm (QCOM) stock declined 3.4% in the year-to-date period as of March 11.

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Skyhigh and its impact on Cypress

Cypress is a manufacturer of embedded solutions that connect, compute, and store data for the automotive, industrial, enterprise, and consumer markets. The company has been undergoing a transition process from commoditized to specialized product solutions that have a longer product life cycle and have the potential to deliver stable and consistent revenues.

Therefore, Cypress is reducing its exposure to commoditized NAND to focus on high-end specialty storage applications for automotive, industrial, and enterprise infrastructure. The company’s joint venture with SK Hynix is likely to help the company in the process. Notably, SkyHigh Memory will offer premium quality single-level cell (or SLC) NAND memory products and will invest in R&D for next-generation NAND products.

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