Cypress Semiconductor Corporation Plans Quarterly Dividend of $0.11 (CY)
Cypress Semiconductor Corporation (NASDAQ:CY) declared a quarterly dividend on Tuesday, November 7th, RTT News reports. Stockholders of record on Thursday, December 28th will be paid a dividend of 0.11 per share by the semiconductor company on Thursday, January 18th. This represents a $0.44 annualized dividend and a dividend yield of 2.64%.
Shares of Cypress Semiconductor Corporation (CY) traded up $0.18 during trading on Tuesday, hitting $16.69. The stock had a trading volume of 5,996,314 shares, compared to its average volume of 4,930,000. The stock has a market capitalization of $5,530.00, a price-to-earnings ratio of 33.54, a P/E/G ratio of 2.90 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35. Cypress Semiconductor Corporation has a 1 year low of $9.85 and a 1 year high of $16.77.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $604.57 million for the quarter, compared to analyst estimates of $602.16 million. Cypress Semiconductor Corporation had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. research analysts forecast that Cypress Semiconductor Corporation will post 0.56 earnings per share for the current year.
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In related news, EVP Trent Thad sold 74,818 shares of Cypress Semiconductor Corporation stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $15.77, for a total transaction of $1,179,879.86. Following the completion of the sale, the executive vice president now owns 172,105 shares of the company’s stock, valued at $2,714,095.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $12.92 per share, with a total value of $129,200.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $258,400. The disclosure for this purchase can be found here. Insiders have bought 60,000 shares of company stock worth $834,100 in the last 90 days. Insiders own 0.69% of the company’s stock.
Several research firms have issued reports on CY. Barclays PLC lowered Cypress Semiconductor Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $18.00 to $17.00 in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Cypress Semiconductor Corporation from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, October 31st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $19.00 target price on shares of Cypress Semiconductor Corporation in a research note on Thursday, October 12th. BidaskClub upgraded Cypress Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Cypress Semiconductor Corporation currently has a consensus rating of “Buy” and an average target price of $17.67.
Cypress Semiconductor Corporation Company Profile
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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