Cypress Semiconductor Co. (CY) Expected to Post Quarterly Sales of $580.38 Million
Wall Street analysts predict that Cypress Semiconductor Co. (NASDAQ:CY) will post $580.38 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cypress Semiconductor’s earnings, with estimates ranging from $579.60 million to $582.63 million. Cypress Semiconductor reported sales of $531.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The business is scheduled to report its next earnings results on Thursday, April 26th.
On average, analysts expect that Cypress Semiconductor will report full year sales of $580.38 million for the current financial year, with estimates ranging from $2.41 billion to $2.56 billion. For the next fiscal year, analysts expect that the business will post sales of $2.59 billion per share, with estimates ranging from $2.47 billion to $2.63 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $597.54 million for the quarter, compared to the consensus estimate of $593.15 million. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.27 during trading on Thursday, reaching $18.41. The company had a trading volume of 5,200,000 shares, compared to its average volume of 6,730,000. The firm has a market cap of $6,540.00, a P/E ratio of -52.60, a PEG ratio of 1.18 and a beta of 2.07. Cypress Semiconductor has a twelve month low of $12.50 and a twelve month high of $18.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.22 and a quick ratio of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, March 28th. Cypress Semiconductor’s payout ratio is currently -125.71%.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $15.51, for a total transaction of $46,530.00. Following the completion of the sale, the senior vice president now owns 68,445 shares in the company, valued at approximately $1,061,581.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hassane El-Khoury sold 43,991 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total value of $774,241.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,643 shares of company stock worth $1,284,030. Insiders own 0.69% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC bought a new position in Cypress Semiconductor during the fourth quarter worth about $69,678,000. Westfield Capital Management Co. LP bought a new stake in shares of Cypress Semiconductor in the third quarter valued at approximately $53,009,000. Ameriprise Financial Inc. boosted its stake in shares of Cypress Semiconductor by 34.1% in the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock valued at $184,179,000 after buying an additional 3,116,871 shares during the period. TCW Group Inc. boosted its stake in shares of Cypress Semiconductor by 13.8% in the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock valued at $202,214,000 after buying an additional 1,628,930 shares during the period. Finally, Garelick Capital Partners LP bought a new stake in shares of Cypress Semiconductor in the fourth quarter valued at approximately $19,356,000. Institutional investors own 85.20% of the company’s stock.
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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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