Mizuho reaffirmed their buy rating on shares of Cypress Semiconductor (NASDAQ:CY) in a report released on Friday, MarketBeat.com reports. The brokerage currently has a $20.00 price target on the semiconductor company’s stock, up from their prior price target of $18.00.
A number of other brokerages have also commented on CY. BidaskClub raised shares of Cypress Semiconductor from a buy rating to a strong-buy rating in a research report on Wednesday, November 1st. KeyCorp reaffirmed an overweight rating on shares of Cypress Semiconductor in a research report on Thursday, September 14th. Needham & Company LLC reaffirmed a buy rating and set a $20.00 target price on shares of Cypress Semiconductor in a research report on Monday, October 9th. Bank of America reaffirmed a buy rating on shares of Cypress Semiconductor in a research report on Sunday, October 1st. Finally, Zacks Investment Research lowered shares of Cypress Semiconductor from a strong-buy rating to a hold rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $18.25.
Cypress Semiconductor (NASDAQ:CY) traded up $0.09 during trading on Friday, reaching $17.16. 1,690,949 shares of the company were exchanged, compared to its average volume of 5,074,311. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. Cypress Semiconductor has a 12 month low of $10.99 and a 12 month high of $17.42. The stock has a market cap of $5,740.00, a price-to-earnings ratio of -42.90, a P/E/G ratio of 1.96 and a beta of 2.01.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company had revenue of $604.57 million for the quarter, compared to analyst estimates of $602.16 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. equities analysts predict that Cypress Semiconductor will post 0.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.56%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor’s payout ratio is -110.00%.
In other Cypress Semiconductor news, SVP Sam Geha sold 8,269 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $16.70, for a total value of $138,092.30. Following the completion of the sale, the senior vice president now directly owns 63,000 shares in the company, valued at $1,052,100. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $16.60, for a total transaction of $49,800.00. Following the completion of the sale, the senior vice president now owns 70,607 shares of the company’s stock, valued at $1,172,076.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,786 shares of company stock worth $486,147. 0.69% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CY. FMR LLC boosted its stake in Cypress Semiconductor by 310.3% in the second quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock valued at $168,875,000 after acquiring an additional 9,356,825 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Cypress Semiconductor in the third quarter valued at approximately $53,009,000. Ameriprise Financial Inc. boosted its stake in Cypress Semiconductor by 34.1% in the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock valued at $184,179,000 after acquiring an additional 3,116,871 shares in the last quarter. TCW Group Inc. boosted its stake in Cypress Semiconductor by 13.8% in the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock valued at $202,214,000 after acquiring an additional 1,628,930 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Cypress Semiconductor by 12.0% in the second quarter. Lazard Asset Management LLC now owns 7,627,009 shares of the semiconductor company’s stock valued at $104,107,000 after acquiring an additional 816,680 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.
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Cypress Semiconductor 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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