Cypress Semiconductor Corp. (CY) Receives Consensus Rating of “Buy” from Brokerages
Cypress Semiconductor Corp. (NASDAQ:CY) has received an average recommendation of “Buy” from the fourteen analysts that are presently covering the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.09.
Several equities analysts have issued reports on CY shares. Roth Capital restated a “buy” rating and issued a $13.00 price target on shares of Cypress Semiconductor Corp. in a research report on Friday, September 16th. Zacks Investment Research upgraded shares of Cypress Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, November 1st. Barclays PLC cut shares of Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and set a $11.00 price objective for the company. in a research report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Cypress Semiconductor Corp. in a research report on Monday, August 15th.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) opened at 11.27 on Wednesday. Cypress Semiconductor Corp. has a 52 week low of $6.30 and a 52 week high of $12.48. The firm has a 50-day moving average of $10.64 and a 200 day moving average of $10.89. The firm’s market capitalization is $3.64 billion.
Cypress Semiconductor Corp. (NASDAQ:CY) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Cypress Semiconductor Corp. had a negative net margin of 37.50% and a positive return on equity of 3.21%. The firm earned $530.10 million during the quarter, compared to analysts’ expectations of $525.62 million. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts predict that Cypress Semiconductor Corp. will post $0.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 19th. Shareholders of record on Thursday, December 29th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, December 27th. Cypress Semiconductor Corp.’s dividend payout ratio (DPR) is -20.28%.
In other news, Director Eric Benhamou sold 50,000 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $11.83, for a total value of $591,500.00. Following the completion of the sale, the director now owns 218,538 shares in the company, valued at $2,585,304.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider H Raymond Bingham sold 15,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $11.96, for a total transaction of $179,400.00. Following the completion of the sale, the insider now owns 40,276 shares of the company’s stock, valued at approximately $481,700.96. The disclosure for this sale can be found here. 6.33% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CY. ETRADE Capital Management LLC bought a new stake in Cypress Semiconductor Corp. during the third quarter worth about $232,000. D.A. Davidson & CO. increased its stake in Cypress Semiconductor Corp. by 2.1% in the third quarter. D.A. Davidson & CO. now owns 66,555 shares of the company’s stock worth $809,000 after buying an additional 1,375 shares during the period. LPL Financial LLC increased its stake in Cypress Semiconductor Corp. by 6.0% in the third quarter. LPL Financial LLC now owns 262,779 shares of the company’s stock worth $3,122,000 after buying an additional 14,910 shares during the period. Ameritas Investment Partners Inc. increased its stake in Cypress Semiconductor Corp. by 95.9% in the third quarter. Ameritas Investment Partners Inc. now owns 97,002 shares of the company’s stock worth $1,179,000 after buying an additional 47,495 shares during the period. Finally, Phocas Financial Corp. increased its stake in Cypress Semiconductor Corp. by 6.9% in the third quarter. Phocas Financial Corp. now owns 1,068,298 shares of the company’s stock worth $12,991,000 after buying an additional 69,268 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.
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Cypress Semiconductor Corp. Company Profile
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.
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