Other research analysts have also recently issued reports about the stock. SunTrust Banks lifted their price target on shares of Cypress Semiconductor to $23.85 in a research report on Tuesday, June 4th. They noted that the move was a valuation call. MKM Partners lifted their price target on shares of Cypress Semiconductor to $18.00 and gave the company a buy rating in a research report on Friday, March 15th. Bank of America reissued a buy rating and set a $18.00 price target on shares of Cypress Semiconductor in a research report on Thursday, March 14th. Needham & Company LLC reissued a buy rating on shares of Cypress Semiconductor in a research report on Thursday, March 14th. Finally, Zacks Investment Research raised shares of Cypress Semiconductor from a hold rating to a buy rating and set a $19.00 target price for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $20.34.
Shares of NASDAQ CY opened at $22.28 on Monday. Cypress Semiconductor has a 1 year low of $11.75 and a 1 year high of $22.43. The stock has a market cap of $8.13 billion, a PE ratio of 19.21, a P/E/G ratio of 2.50 and a beta of 1.77. The company’s 50-day simple moving average is $19.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.82.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Cypress Semiconductor had a net margin of 14.97% and a return on equity of 21.23%. The company had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $535.13 million. During the same period last year, the company posted $0.27 EPS. Cypress Semiconductor’s revenue was down 7.4% on a year-over-year basis. On average, research analysts anticipate that Cypress Semiconductor will post 0.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.44 annualized dividend and a yield of 1.97%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the completion of the transaction, the executive vice president now directly owns 165,031 shares of the company’s stock, valued at $2,619,041.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sam Geha sold 5,000 shares of Cypress Semiconductor stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $15.90, for a total transaction of $79,500.00. Following the completion of the transaction, the executive vice president now directly owns 120,603 shares of the company’s stock, valued at $1,917,587.70. The disclosure for this sale can be found here. Insiders sold 47,710 shares of company stock valued at $947,912 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. purchased a new position in shares of Cypress Semiconductor during the first quarter valued at approximately $30,000. Resources Investment Advisors Inc. raised its holdings in shares of Cypress Semiconductor by 52.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 686 shares during the last quarter. PRW Wealth Management LLC bought a new stake in Cypress Semiconductor during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC grew its position in Cypress Semiconductor by 101.0% during the first quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 1,102 shares during the period. Finally, Somerset Trust Co grew its position in Cypress Semiconductor by 151.6% during the first quarter. Somerset Trust Co now owns 2,841 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 1,712 shares during the period. 81.11% of the stock is owned by hedge funds and other institutional investors.
Cypress Semiconductor Company Profile
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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