Cypress Semiconductor Co. (NASDAQ:CY) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 35,496,877 shares, a growth of 5.0% from the February 28th total of 33,798,497 shares. Based on an average daily volume of 5,989,758 shares, the short-interest ratio is currently 5.9 days. Currently, 11.5% of the shares of the company are short sold.
Several analysts have recently weighed in on the stock. Pacific Crest reaffirmed an “overweight” rating and issued a $17.00 target price (up previously from $14.00) on shares of Cypress Semiconductor in a report on Wednesday, March 29th. Craig Hallum lifted their target price on shares of Cypress Semiconductor from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. KeyCorp started coverage on shares of Cypress Semiconductor in a report on Wednesday, March 29th. They issued an “overweight” rating and a $17.00 target price on the stock. Loop Capital reissued a “buy” rating and set a $16.00 price objective on shares of Cypress Semiconductor in a report on Wednesday, March 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective (up previously from $14.00) on shares of Cypress Semiconductor in a report on Wednesday, March 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.00.
In other Cypress Semiconductor news, Director Eric Benhamou sold 50,000 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $14.18, for a total transaction of $709,000.00. Following the transaction, the director now directly owns 118,538 shares of the company’s stock, valued at approximately $1,680,868.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.33% of the company’s stock.
Cypress Semiconductor (NASDAQ:CY) traded down 0.71% during trading on Friday, hitting $13.99. 6,342,825 shares of the stock were exchanged. The stock’s 50-day moving average price is $13.76 and its 200-day moving average price is $12.04. Cypress Semiconductor has a 12-month low of $8.48 and a 12-month high of $14.98. The firm’s market cap is $4.59 billion.
Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, February 2nd. The semiconductor company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The firm had revenue of $530.17 million for the quarter, compared to analysts’ expectations of $525.63 million. Cypress Semiconductor had a positive return on equity of 3.52% and a negative net margin of 35.69%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. On average, equities analysts expect that Cypress Semiconductor will post $0.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Shareholders of record on Thursday, March 30th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.15%. The ex-dividend date was Tuesday, March 28th. Cypress Semiconductor’s payout ratio is -20.37%.
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About Cypress Semiconductor
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
