Shares of Cypress Semiconductor Corporation (NASDAQ:CY) ended Tuesday session in green amid volatile trading. The shares closed up +0.05 points or 0.42% at $11.82 with 4.64 million shares getting traded. Post opening the session at $11.90, the shares hit an intraday low of $111.77 and an intraday high of $11.96 and the price vacillated in this range throughout the day. The company has a market cap of $3.75 billion and the numbers of outstanding shares have been calculated to be 321.18 million shares.
Cypress Semiconductor Corporation (CY) on Sept. 13, 2016 announced it is sampling new devices in its single-power-supply Traveo™ automotive microcontroller (MCU) family that provides secure, high-speed networking for body electronics applications. The new S6J342xxx series supports the Controller Area Network Flexible Data-rate (CAN FD) standard for high-speed, in-vehicle networking, enabling large amounts of data to be exchanged between each CAN node. The MCUs address the critical need to secure data on in-vehicle networks with enhanced Secure Hardware Extension (eSHE) support, preventing unauthorized connections to electronic control units (ECUs). The new Traveo series continues Cypress’s expansion of its broad automotive portfolio that includes MCUs, wireless radios, memories, capacitive-touch solutions and Power Management ICs (PMICs).
The Traveo S6J342xxx series leverage Cypress’s 40nm embedded charge-trap (eCT™) Flash technology for higher performance and reliability. The series delivers rich features and more cost-efficient implementations for body control modules, heating ventilation and air conditioning (HVAC) systems, collision warning systems, gateways and lighting applications. The MCUs are based on an ARM® Cortex®-R5 core with robust, 132-MHz performance and feature up to 1MB of high-density embedded flash for application storage. A unique partial wake-up mode allows the MCUs to minimize average power consumption. Cypress offers a broad range of variations in the series that enables OEM customers to easily develop derivative solutions. More information on the Traveo MCU family is available at http://www.cypress.com/traveo.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) ended Tuesday session in green amid volatile trading. The shares closed up +0.94 points or 0.94% at $100.62 with 4.10 million shares getting traded. Post opening the session at $100.16, the shares hit an intraday low of $99.72 and an intraday high of $100.90 and the price vacillated in this range throughout the day. The company has a market cap of $50.52 billion and the numbers of outstanding shares have been calculated to be 498.97 million shares.
Adobe Systems Incorporated (ADBE) on September 21, 2016 reported financial results for its third quarter fiscal year 2016 ended Sept. 2, 2016.
Third Quarter Financial Highlights
- Adobe achieved record quarterly revenue of $1.46 billion, representing year-over-year growth of 20 percent.
- Diluted earnings per share were $0.54 on a GAAP-basis, and $0.75 on a non-GAAP basis.
- Digital Media segment revenue was a record $990 million, with Creative revenue growing 39 percent year-over-year to a record $803 million.
- Strong Creative Cloud and Document Cloud adoption drove Digital Media Annualized Recurring Revenue (“ARR”) to $3.70 billion exiting the quarter, a quarter-over-quarter increase of $285 million.
- Adobe Marketing Cloud achieved record revenue of $404 million.
- Year-over-year operating income grew 50 percent and net income grew 55 percent on a GAAP-basis; operating income grew 36 percent and net income grew 37 percent on a non-GAAP basis.
- Cash flow from operations was a record $518 million, and deferred revenue grew to a record $1.80 billion.
- The company repurchased approximately 3.5 million shares during the quarter, returning $344 million of cash to stockholders.
“We drove strong revenue and earnings performance in Q3, further distancing ourselves from our competitors,” said Shantanu Narayen, Adobe president and chief executive officer. “Our leadership in cloud-based content and data platforms make us a mission critical partner to the world’s biggest brands as they transform how they engage with their customers.”
“Fiscal 2016 is shaping up to be another great year and Adobe’s record results in Q3 reflect both our market leadership and strong execution,” said Mark Garrett, Adobe executive vice president and chief financial officer. “We are expecting another record quarter in Q4, and the leverage in our operating model is reflected in our increase to earnings targets for the year.”