Piper Jaffray Companies set a $15.00 price objective on Cypress Semiconductor (NASDAQ:CY) in a report issued on Friday morning. The firm currently has a buy rating on the semiconductor company’s stock.
Several other research analysts have also commented on the company. ValuEngine lowered Cypress Semiconductor from a hold rating to a sell rating in a report on Wednesday, September 12th. BidaskClub upgraded Cypress Semiconductor from a sell rating to a hold rating in a report on Saturday, September 22nd. Morgan Stanley reduced their price target on Cypress Semiconductor from $15.00 to $13.00 and set an underweight rating on the stock in a report on Monday, September 24th. Zacks Investment Research lowered Cypress Semiconductor from a strong-buy rating to a sell rating in a report on Wednesday, September 26th. Finally, MKM Partners started coverage on Cypress Semiconductor in a report on Thursday, October 4th. They set a buy rating and a $20.00 price target on the stock. Four analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.46.
NASDAQ CY opened at $12.38 on Friday. Cypress Semiconductor has a 52 week low of $11.75 and a 52 week high of $18.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.12. The firm has a market cap of $4.48 billion, a PE ratio of 11.57, a P/E/G ratio of 0.76 and a beta of 2.10.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $15.39, for a total value of $46,170.00. Following the sale, the executive vice president now directly owns 114,157 shares in the company, valued at approximately $1,756,876.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 9,000 shares of company stock worth $136,290. 0.43% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC acquired a new position in Cypress Semiconductor in the 2nd quarter valued at about $290,000. grace capital acquired a new position in Cypress Semiconductor in the 2nd quarter valued at about $156,000. Vantage Financial Partners Ltd. Inc. acquired a new position in Cypress Semiconductor in the 2nd quarter valued at about $159,000. Raymond James Trust N.A. acquired a new position in Cypress Semiconductor in the 3rd quarter valued at about $151,000. Finally, Hartford Investment Management Co. acquired a new position in Cypress Semiconductor in the 2nd quarter valued at about $170,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.
About Cypress Semiconductor
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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