Royce Funds' Bill Hench Comments on Cypress Semiconductor

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May 24, 2017

Cypress Semiconductor (Nasdaq, CY) (NASDAQ:CY) manufactures digital and mixed-signal integrated circuits mostly for data center and cloud storage applications.

We saw it as an undervalued growth stock because of its potential business growth and capacity for margin expansion. These possibilities looked even brighter as the buildout was first getting under way. Although its shares have begun to recover, we built our stake in the Fund during the first quarter of 2017.

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