SunTrust Banks Research Analysts Decrease Earnings Estimates for Cypress Semiconductor Corporation (CY)
Cypress Semiconductor Corporation (NASDAQ:CY) – Equities research analysts at SunTrust Banks lowered their Q1 2018 earnings per share (EPS) estimates for shares of Cypress Semiconductor in a research note issued to investors on Friday. SunTrust Banks analyst W. Stein now anticipates that the semiconductor company will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.16. SunTrust Banks has a “Hold” rating and a $17.00 price objective on the stock. SunTrust Banks also issued estimates for Cypress Semiconductor’s Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.85 EPS.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $604.57 million for the quarter, compared to analysts’ expectations of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.06 during midday trading on Monday, reaching $14.84. 2,058,927 shares of the company’s stock were exchanged, compared to its average volume of 6,416,238. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35. The company has a market cap of $4,924.89, a P/E ratio of 30.75, a P/E/G ratio of 2.66 and a beta of 2.01. Cypress Semiconductor has a one year low of $10.86 and a one year high of $17.42.
A number of institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors purchased a new position in Cypress Semiconductor during the third quarter worth about $942,000. Neuberger Berman Group LLC boosted its stake in Cypress Semiconductor by 33.2% during the third quarter. Neuberger Berman Group LLC now owns 2,478,865 shares of the semiconductor company’s stock worth $37,233,000 after buying an additional 618,013 shares during the period. PVG Asset Management Corp purchased a new position in Cypress Semiconductor during the third quarter worth about $2,513,000. Janney Montgomery Scott LLC boosted its stake in Cypress Semiconductor by 54.0% during the third quarter. Janney Montgomery Scott LLC now owns 50,179 shares of the semiconductor company’s stock worth $754,000 after buying an additional 17,589 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Cypress Semiconductor during the third quarter worth about $4,141,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
In other Cypress Semiconductor news, SVP Sam Geha sold 14,517 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the completion of the transaction, the senior vice president now directly owns 41,204 shares in the company, valued at $714,477.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Daniel Mccranie acquired 30,000 shares of Cypress Semiconductor stock in a transaction on Thursday, September 14th. The shares were bought at an average price of $14.37 per share, with a total value of $431,100.00. Following the completion of the transaction, the director now directly owns 55,000 shares of the company’s stock, valued at approximately $790,350. The disclosure for this purchase can be found here. Insiders have sold 100,604 shares of company stock worth $1,619,497 over the last three months. 0.69% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -110.00%.
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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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