Cypress Semiconductor Co. (CY) Stock Rating Reaffirmed by Needham & Company LLC
Cypress Semiconductor Co. (NASDAQ:CY)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report released on Monday. They presently have a $20.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 28.95% from the stock’s current price.
A number of other analysts have also recently commented on the company. Barclays PLC raised Cypress Semiconductor from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $18.00 in a research report on Wednesday, June 28th. Mizuho reaffirmed a “buy” rating and set a $17.00 price target on shares of Cypress Semiconductor in a research report on Tuesday, August 29th. KeyCorp set a $17.00 price target on Cypress Semiconductor and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Craig Hallum lifted their price target on Cypress Semiconductor from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, TheStreet raised Cypress Semiconductor from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.91.
Cypress Semiconductor (NASDAQ:CY) traded up 0.19% on Monday, reaching $15.54. The company’s stock had a trading volume of 2,230,005 shares. Cypress Semiconductor has a 1-year low of $9.63 and a 1-year high of $15.72. The firm’s 50 day moving average price is $14.14 and its 200-day moving average price is $13.88. The company’s market capitalization is $5.17 billion.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. Cypress Semiconductor had a negative return on equity of 4.96% and a negative net margin of 3.03%. The company had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Cypress Semiconductor will post $0.80 earnings per share for the current year.
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In related news, Director Michael S. Wishart sold 30,000 shares of Cypress Semiconductor stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total value of $422,100.00. Following the completion of the transaction, the director now owns 65,256 shares in the company, valued at approximately $918,151.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Camillo Martino purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $12.92 per share, with a total value of $129,200.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $258,400. The disclosure for this purchase can be found here. In the last three months, insiders bought 60,000 shares of company stock valued at $834,100. Insiders own 0.69% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Cypress Semiconductor by 144.8% in the 1st quarter. Legal & General Group Plc now owns 215,915 shares of the semiconductor company’s stock valued at $2,971,000 after purchasing an additional 127,706 shares in the last quarter. Advisors Capital Management LLC increased its stake in shares of Cypress Semiconductor by 3.3% in the 2nd quarter. Advisors Capital Management LLC now owns 1,616,935 shares of the semiconductor company’s stock valued at $22,071,000 after purchasing an additional 51,688 shares in the last quarter. UBS Group AG increased its stake in shares of Cypress Semiconductor by 33.9% in the 1st quarter. UBS Group AG now owns 623,603 shares of the semiconductor company’s stock valued at $8,580,000 after purchasing an additional 157,889 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Cypress Semiconductor by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 989 shares in the last quarter. Finally, Northpointe Capital LLC increased its stake in shares of Cypress Semiconductor by 69.2% in the 2nd quarter. Northpointe Capital LLC now owns 541,074 shares of the semiconductor company’s stock valued at $7,386,000 after purchasing an additional 221,288 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.
About Cypress Semiconductor
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
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