NVEC’s MRAM technology is no “holy grail” for Cypress.

On May 18, 2004 Cypress Semiconductor Corporation’s (NYSE: CY, $16.15) chief financial officer Manny Hernandez provided an update on its Magnetoresistive Random Access Memory (“MRAM”) development at the Piper Jaffray Technology Conference in New York City. Mr. Hernandez stated that MRAM has been very hard to invent and develop. Mr. Hernandez stated that Cypress’ MRAM chips continue to have “soft error rates that need to be rectified and I think we need a couple of quarters easily, if at all, to solve that problem.”

Cypress licensed all of NVE Corporation’s (NASDAQ: NVEC, $30.75) MRAM technology on April 12, 2002. In its 2002 annual report Cypress called MRAM the “‘holy grail’ memory technology.” Cypress is experienced in designing and manufacturing memory chips and has made a significant investment of time and money in its MRAM development program. Yet Cypress has not been able to produce an MRAM product using NVE’s so-called MRAM technology. It is important for investors to remember that Cypress will not pay NVE a licensing or any other fee even if they eventually make an economically viable MRAM product.

On April 2, 2004 Asensio & Company, Inc. issued two research reports titled, “NVEC fails to solve Cypress’ MRAM problems” and “Cypress values NVEC at a maximum of $4.85 per share.” The reports analyze Cypress’ NVE stock purchases, stock sales and NVE’s licensing agreement with Cypress.

Asensio & Company, Inc. reports are published and distributed solely and exclusively to registered asensio.com subscribers who have read and agreed to the Mandatory User Agreement located at /?page_id=25 and included herein in its entirety by reference thereto and by notice of its availability.

Posted in NVE Corporation

Manuel Asensio doesn’t bet often. But when he does, it’s wise to pay attention.

Paul Kaihla
eCompany Now
1 2 3 4 5 6 7 8 9
About Our Founder
Learn more about asensio.com's founder, Manuel P. Asensio, and the website's origins. Click here to be directed to Mr. Asensio’s professional biography.
Media Record
Click here to see selected articles that discuss asensio.com's work and its unique legacy. asensio.com also strives to maintain a complete record of articles dealing with the companies that are the subject of asensio.com research.
Investment Record
Click here to view a list of the companies that have been subjects of asensio.com reporting and click here to see the complete investment record.
Asensio and FINRA
Asensio & Company, Inc. and Manuel P. Asensio are the only dedicated short sellers ever to have been members of FINRA. This unique-minority membership created complications in the regulatory relationship. Being the first activist short investors and among the first FINRA member firms with a website added to the complexity. A statement by Mr. Asensio is available here. Information necessary to obtain a meaningful understanding of the dispute is available in complete form HERE.