The Cypress Semiconductor chief executive, who blew up his high school and college chemistry labs and has since become one of Silicon Valley's most colorful characters, stunned the industry and many of his shareholders six years ago when his company began investing in the solar-panel firm SunPower.

Since then, SunPower has been a major success for San Jose-based Cypress, last year accounting for some $775 million — or about half — of Cypress' revenue. But not anymore.

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