Cypress Semiconductor Co. (CY) Receives Average Rating of “Buy” from Brokerages

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Shares of Cypress Semiconductor Co. (NASDAQ:CY) have earned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $17.21.

CY has been the subject of several recent research reports. ValuEngine downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Craig Hallum reiterated a “buy” rating and set a $18.00 price target (down previously from $20.00) on shares of Cypress Semiconductor in a report on Friday, February 1st. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Needham & Company LLC reiterated a “buy” rating on shares of Cypress Semiconductor in a report on Thursday, March 14th. Finally, Bank of America reiterated a “buy” rating and set a $18.00 price target on shares of Cypress Semiconductor in a report on Thursday, March 14th.

In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.19, for a total value of $45,570.00. Following the transaction, the executive vice president now owns 165,979 shares of the company’s stock, valued at $2,521,221.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Oc Kwon sold 3,710 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.13, for a total value of $63,552.30. Following the completion of the transaction, the director now directly owns 73,113 shares in the company, valued at approximately $1,252,425.69. The disclosure for this sale can be found here. In the last three months, insiders sold 39,710 shares of company stock worth $632,742. Insiders own 0.55% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. ETF Managers Group LLC lifted its position in shares of Cypress Semiconductor by 8.6% during the 1st quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 680 shares during the last quarter. Resources Investment Advisors Inc. lifted its position in shares of Cypress Semiconductor by 52.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 686 shares during the last quarter. State Treasurer State of Michigan lifted its position in shares of Cypress Semiconductor by 0.5% during the 1st quarter. State Treasurer State of Michigan now owns 129,700 shares of the semiconductor company’s stock valued at $1,935,000 after buying an additional 700 shares during the last quarter. Utah Retirement Systems lifted its position in shares of Cypress Semiconductor by 1.1% during the 1st quarter. Utah Retirement Systems now owns 67,465 shares of the semiconductor company’s stock valued at $1,006,000 after buying an additional 765 shares during the last quarter. Finally, Optimum Investment Advisors lifted its position in shares of Cypress Semiconductor by 1.0% during the 1st quarter. Optimum Investment Advisors now owns 77,900 shares of the semiconductor company’s stock valued at $1,162,000 after buying an additional 800 shares during the last quarter. 81.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of CY stock traded up $0.05 during mid-day trading on Friday, reaching $15.46. 84,890 shares of the stock traded hands, compared to its average volume of 4,287,787. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $18.59. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.74 and a beta of 1.96. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The company had revenue of $539.00 million for the quarter, compared to analyst estimates of $535.13 million. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, sell-side analysts predict that Cypress Semiconductor will post 0.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be given a $0.11 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.44 annualized dividend and a yield of 2.85%. Cypress Semiconductor’s dividend payout ratio is currently 37.93%.

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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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