Loop Capital Reiterates Buy Rating for Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corporation (NASDAQ:CY)‘s stock had its “buy” rating restated by investment analysts at Loop Capital in a research report issued to clients and investors on Tuesday. They currently have a $17.00 target price on the semiconductor company’s stock. Loop Capital’s price target indicates a potential upside of 31.38% from the company’s previous close.

CY has been the subject of several other reports. KeyCorp reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. Zacks Investment Research raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, May 2nd. Barclays PLC raised Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Mizuho reissued a “buy” rating and set a $16.00 price target on shares of Cypress Semiconductor Corporation in a research note on Monday, April 24th. Finally, Stephens reissued an “overweight” rating on shares of Cypress Semiconductor Corporation in a research note on Tuesday, May 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.67.

Shares of Cypress Semiconductor Corporation (NASDAQ:CY) opened at 12.94 on Tuesday. The firm has a 50-day moving average price of $13.99 and a 200 day moving average price of $13.65. The company’s market cap is $4.30 billion. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $15.11.

Cypress Semiconductor Corporation (NASDAQ:CY) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $593.80 million during the quarter, compared to analyst estimates of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Equities analysts predict that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.

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In other news, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $14.01, for a total value of $89,453.85. Following the transaction, the director now directly owns 69,124 shares in the company, valued at approximately $968,427.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael S. Wishart sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total value of $422,100.00. Following the transaction, the director now owns 65,256 shares in the company, valued at $918,151.92. The disclosure for this sale can be found here. Insiders sold a total of 336,460 shares of company stock worth $4,703,111 over the last quarter. Company insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CY. Honeywell International Inc. acquired a new position in shares of Cypress Semiconductor Corporation during the first quarter valued at $11,008,000. Legal & General Group Plc boosted its stake in shares of Cypress Semiconductor Corporation by 144.8% in the first quarter. Legal & General Group Plc now owns 215,915 shares of the semiconductor company’s stock worth $2,971,000 after buying an additional 127,706 shares in the last quarter. Advisors Capital Management LLC boosted its stake in shares of Cypress Semiconductor Corporation by 3.3% in the second quarter. Advisors Capital Management LLC now owns 1,616,935 shares of the semiconductor company’s stock worth $22,071,000 after buying an additional 51,688 shares in the last quarter. UBS Group AG boosted its stake in shares of Cypress Semiconductor Corporation by 33.9% in the first quarter. UBS Group AG now owns 623,603 shares of the semiconductor company’s stock worth $8,580,000 after buying an additional 157,889 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cypress Semiconductor Corporation by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 2,288,738 shares of the semiconductor company’s stock worth $31,493,000 after buying an additional 13,114 shares in the last quarter. Hedge funds and other institutional investors own 96.92% of the company’s stock.

Cypress Semiconductor Corporation Company Profile

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.

Analyst Recommendations for Cypress Semiconductor Corporation (NASDAQ:CY)

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