Cypress Semiconductor (NASDAQ:CY) Sets New 1-Year High at $22.48

Share on StockTwits

Cypress Semiconductor Co. (NASDAQ:CY) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.48 and last traded at $22.47, with a volume of 2781559 shares. The stock had previously closed at $22.35.

Several brokerages recently weighed in on CY. Piper Jaffray Companies cut Cypress Semiconductor from an “overweight” rating to a “neutral” rating in a report on Monday, June 3rd. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. ValuEngine cut Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. SunTrust Banks increased their target price on Mirati Therapeutics to $120.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Morgan Stanley increased their target price on Intact Financial from C$125.00 to C$128.00 in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $20.34.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.82. The stock has a fifty day moving average of $20.96. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.51 and a beta of 1.88.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The business had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $535.13 million. During the same quarter last year, the business posted $0.27 EPS. The business’s revenue was down 7.4% on a year-over-year basis. Research analysts forecast that Cypress Semiconductor Co. will post 0.89 earnings per share for the current 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 issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.

In other news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $22.16, for a total value of $443,200.00. Following the completion of the transaction, the chief executive officer now owns 521,745 shares of the company’s stock, valued at approximately $11,561,869.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Oc Kwon sold 3,710 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,252,425.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,710 shares of company stock valued at $1,314,812. Company insiders own 0.55% of the company’s stock.

Several large investors have recently made changes to their positions in CY. Deprince Race & Zollo Inc. raised its position in shares of Cypress Semiconductor by 3.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,797,166 shares of the semiconductor company’s stock worth $22,860,000 after acquiring an additional 64,248 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Cypress Semiconductor by 7.6% in the 4th quarter. Private Advisor Group LLC now owns 16,426 shares of the semiconductor company’s stock worth $209,000 after acquiring an additional 1,158 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Cypress Semiconductor in the 4th quarter worth approximately $176,000. Northern Trust Corp raised its position in shares of Cypress Semiconductor by 0.5% in the 4th quarter. Northern Trust Corp now owns 2,852,005 shares of the semiconductor company’s stock worth $36,278,000 after acquiring an additional 12,947 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Cypress Semiconductor by 9.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 221,729 shares of the semiconductor company’s stock worth $2,614,000 after acquiring an additional 19,054 shares in the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

About Cypress Semiconductor (NASDAQ:CY)

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.

Further Reading: What is a Fibonacci Channel?

Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.