BidaskClub upgraded shares of Cypress Semiconductor Corporation (NASDAQ:CY) from a hold rating to a buy rating in a research note issued to investors on Thursday.
CY has been the topic of a number of other research reports. Craig Hallum upped their price target on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the company a buy rating in a research note on Friday, July 28th. Mizuho reaffirmed a buy rating and set a $17.00 price target on shares of Cypress Semiconductor Corporation in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Cypress Semiconductor Corporation from a hold rating to a buy rating and set a $15.00 price target on the stock in a research note on Thursday, June 29th. Loop Capital reaffirmed a buy rating and set a $17.00 price target on shares of Cypress Semiconductor Corporation in a research note on Friday, July 28th. Finally, KeyCorp reaffirmed an overweight rating on shares of Cypress Semiconductor Corporation in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $16.75.
Cypress Semiconductor Corporation (NASDAQ:CY) traded up 0.386% during trading on Thursday, hitting $14.305. 2,525,686 shares of the company traded hands. The company’s 50 day moving average is $13.74 and its 200-day moving average is $13.78. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11. The stock’s market capitalization is $4.76 billion.
Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The company had revenue of $593.80 million for the quarter, compared to the consensus estimate of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. Cypress Semiconductor Corporation’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Analysts predict that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, September 27th. Cypress Semiconductor Corporation’s payout ratio is presently -110.00%.
In other Cypress Semiconductor Corporation news, Director Michael S. Wishart sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $14.07, for a total transaction of $422,100.00. Following the transaction, the director now directly owns 65,256 shares in the company, valued at approximately $918,151.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Camillo Martino bought 10,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $258,400. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 60,000 shares of company stock worth $834,100. 0.69% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Ardsley Advisory Partners bought a new position in Cypress Semiconductor Corporation during the 2nd quarter worth about $3,755,000. Phocas Financial Corp. grew its holdings in Cypress Semiconductor Corporation by 4.5% during the 2nd quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock worth $13,517,000 after acquiring an additional 42,607 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Cypress Semiconductor Corporation during the 2nd quarter worth about $1,127,000. Public Employees Retirement System of Ohio grew its holdings in Cypress Semiconductor Corporation by 28.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 417,520 shares of the semiconductor company’s stock worth $5,699,000 after acquiring an additional 93,491 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Cypress Semiconductor Corporation during the 2nd quarter worth about $362,000. Institutional investors own 96.98% 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.
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