Cypress Semiconductor Corporation (NASDAQ: CY) has recently received a number of price target changes and ratings updates:

  • 11/1/2017 – Cypress Semiconductor Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 11/1/2017 – Cypress Semiconductor Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Cypress develops and manufactures a broad range of digital and mixed signal ICs.   The company delivered strong third-quarter earnings aided by growth in automotive, IoT wireless connectivity and USB-C solutions. Also, on a year-to-date basis, the stock has outperformed the industry it belongs to. Cypress’  advanced technology, momentum in new products, increased customer wins and growth initiatives are encouraging. The acquisition of Wireless Internet of Things (IoT) business has further strengthened the company’s leading position in the IoT market. However, weak and uncertain macro environment remain concerns.”
  • 10/31/2017 – Cypress Semiconductor Corporation was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $17.00 price target on the stock, down previously from $18.00.
  • 10/31/2017 – Cypress Semiconductor Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $19.00 price target on the stock. According to Zacks, “Cypress develops and manufactures a broad range of digital and mixed signal ICs.   The company delivered strong third-quarter earnings aided by growth in automotive, IoT wireless connectivity and USB-C solutions. Also, on a year-to-date basis, the stock has outperformed the industry it belongs to. Cypress’  advanced technology, momentum in new products, increased customer wins and growth initiatives are encouraging. The acquisition of Wireless Internet of Things (IoT) business has further strengthened the company’s leading position in the IoT market. However, weak and uncertain macro environment remain concerns.”
  • 10/27/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $20.00 price target on the stock. They wrote, “CY generated record revenue (80% Y/Y growth in IoT), achieved its non-GAAP GM target of 43% a quarter early, and capitalized on its cross selling initiatives (80% of customers now buy CY’s connectivity/MCU/memory products in combination). We believe that the company is executing well on the high growth areas of IoT , Auto and USB-C while finding further improvements towards its profitability (utilization increases, strong memory pricing etc.) With the highest earnings growth in our sector, we estimate 41% Y/Y growth in 2018 off of 7.6% revenue growth, we reiterate our Buy rating.””
  • 10/27/2017 – Cypress Semiconductor Corporation had its price target raised by analysts at Credit Suisse Group from $14.00 to $15.00. They now have a “neutral” rating on the stock.
  • 10/27/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $20.00 price target on the stock, up previously from $17.00.
  • 10/21/2017 – Cypress Semiconductor Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/12/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $19.00 price target on the stock.
  • 10/9/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $20.00 price target on the stock.
  • 10/1/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at Bank of America Corporation.
  • 9/30/2017 – Cypress Semiconductor Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/21/2017 – Cypress Semiconductor Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/20/2017 – Cypress Semiconductor Corporation had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $13.00 price target on the stock.
  • 9/18/2017 – Cypress Semiconductor Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $20.00 price target on the stock. They wrote, “Last week we hosted an investor call with Thad Trent, CFO, and Mike Hogan, GM of IoT at Cypress. Roughly 18% of Cypress’ total revenue, or $108M last quarter, comes from its acquisition of Broadcom’s IoT division which has grown 35%-40% Y/Y since the acquisition closed last year. Cypress’ IoT division services the consumer (70%), Industrial (20%) and Automotive (10%) end markets and is expected to grow at a 17% CAGR over the next 5 years (at the market rate).””
  • 9/14/2017 – Cypress Semiconductor Corporation had its “overweight” rating reaffirmed by analysts at KeyCorp.

Shares of Cypress Semiconductor Corporation (NASDAQ CY) opened at $16.69 on Wednesday. The stock has a market cap of $5,508.81, a P/E ratio of 34.40, a PEG ratio of 2.97 and a beta of 2.02. Cypress Semiconductor Corporation has a 12 month low of $9.85 and a 12 month high of $16.77. 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 (NASDAQ:CY) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Cypress Semiconductor Corporation had a negative net margin of 5.75% and a positive return on equity of 9.01%. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. During the same quarter last year, the company earned $0.15 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. sell-side analysts forecast that Cypress Semiconductor Corporation will post 0.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.64%. Cypress Semiconductor Corporation’s payout ratio is currently -110.00%.

In other Cypress Semiconductor Corporation news, Director J Daniel Mccranie acquired 30,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $14.37 per share, with a total value of $431,100.00. Following the completion of the acquisition, the director now directly owns 55,000 shares in the company, valued at approximately $790,350. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Trent Thad sold 74,818 shares of Cypress Semiconductor Corporation stock in a transaction on 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 transaction, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. Insiders have bought 60,000 shares of company stock valued at $834,100 in the last three months. Corporate insiders own 0.69% of the company’s stock.

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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