$0.29 Earnings Per Share Expected for Cypress Semiconductor (CY) This Quarter

Analysts predict that Cypress Semiconductor (NASDAQ:CY) will announce earnings of $0.29 per share for the current quarter, according to Zacks. Five analysts have made estimates for Cypress Semiconductor’s earnings, with estimates ranging from $0.29 to $0.30. Cypress Semiconductor reported earnings of $0.21 per share during the same quarter last year, which would indicate a positive year over year growth rate of 38.1%. The business is scheduled to report its next earnings results on Thursday, July 26th.

On average, analysts expect that Cypress Semiconductor will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.28. For the next financial year, analysts expect that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.28 to $1.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last issued its earnings results on Thursday, April 26th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $582.24 million for the quarter, compared to analyst estimates of $580.44 million. Cypress Semiconductor had a negative net margin of 1.63% and a positive return on equity of 15.62%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS.

Several research analysts have recently issued reports on CY shares. Zacks Investment Research raised Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Cypress Semiconductor in a research note on Friday, April 27th. KeyCorp lifted their price target on Cypress Semiconductor from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Piper Jaffray reaffirmed a “buy” rating and set a $22.00 price target on shares of Cypress Semiconductor in a research note on Monday, January 29th. Finally, Mizuho reaffirmed a “buy” rating on shares of Cypress Semiconductor in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.19.

In related news, CEO Hassane El-Khoury acquired 10,000 shares of the company’s stock in a transaction dated Monday, April 30th. The stock was bought at an average price of $15.03 per share, with a total value of $150,300.00. Following the purchase, the chief executive officer now directly owns 310,349 shares in the company, valued at approximately $4,664,545.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $55,710.00. Following the transaction, the executive vice president now directly owns 126,125 shares of the company’s stock, valued at approximately $2,342,141.25. The disclosure for this sale can be found here. Insiders sold a total of 83,643 shares of company stock valued at $1,479,190 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whalerock Point Partners LLC purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth about $229,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Cypress Semiconductor by 7.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,036,969 shares of the semiconductor company’s stock worth $31,044,000 after purchasing an additional 148,553 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth about $145,000. State of Alaska Department of Revenue purchased a new stake in shares of Cypress Semiconductor during the 4th quarter worth about $322,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Cypress Semiconductor by 12.7% during the 4th quarter. Rice Hall James & Associates LLC now owns 1,782,736 shares of the semiconductor company’s stock worth $27,169,000 after purchasing an additional 200,199 shares during the period. 85.47% of the stock is owned by institutional investors.

Shares of Cypress Semiconductor traded down $0.33, hitting $15.96, during midday trading on Monday, MarketBeat Ratings reports. 6,337,298 shares of the stock were exchanged, compared to its average volume of 5,574,553. The company has a market capitalization of $5.84 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 0.98 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.50. Cypress Semiconductor has a twelve month low of $12.50 and a twelve month high of $18.87.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 19th. Investors of record on Thursday, June 28th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, June 27th. Cypress Semiconductor’s payout ratio is 73.33%.

Cypress Semiconductor Company Profile

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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