ITC reviewing 'Initial Determination' in Cypress GSI Tech patent case Late Friday, Cypress Semiconductor (CY) announced that the International Trade Commission, ITC, has agreed to review the entire Initial Determination issued by Chief Administrative Law Judge Charles E. Bullock in the pending patent case between Cypress and GSI Technology (GSIT). Cypress has asserted that GSI SRAMs infringe multiple Cypress patents. The Commission also remanded the case back to Judge Bullock for a ruling on the validity and the enforceability of Cypress’s patents. After Judge Bullock completes his ruling, the Commission will review his initial findings on non-infringement as well as his rulings on validity and enforceability.
Cypress Semiconductor price target raised to $18 from $13 at Sterne Agee Sterne Agee increased its price target on Cypress (CY) as the firm expects the company's merger with Spansion (CODE) to produce about $135M of synergies, with 50% of the synergies materializing in the first year. The firm keeps a Buy rating on Cypress.