Cypress Semiconductor Corporation (CY) Expected to Announce Quarterly Sales of $593.73 Million
Wall Street brokerages expect Cypress Semiconductor Corporation (NASDAQ:CY) to announce $593.73 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Cypress Semiconductor’s earnings, with estimates ranging from $592.48 million to $598.20 million. Cypress Semiconductor posted sales of $530.17 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The company is expected to issue its next quarterly earnings report on Thursday, February 1st.
According to Zacks, analysts expect that Cypress Semiconductor will report full-year sales of $593.73 million for the current financial year, with estimates ranging from $2.32 billion to $2.33 billion. For the next year, analysts expect that the company will report sales of $2.48 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had a positive return on equity of 9.01% and a negative net margin of 5.75%. Cypress Semiconductor’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share.
CY has been the subject of a number of recent analyst reports. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Loop Capital reiterated a “buy” rating and issued a $17.00 price target on shares of Cypress Semiconductor in a research report on Tuesday, August 22nd. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a research report on Thursday, October 12th. KeyCorp reiterated an “overweight” rating on shares of Cypress Semiconductor in a research report on Thursday, September 14th. Finally, Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.67.
Cypress Semiconductor (NASDAQ:CY) traded up $0.20 during trading hours on Friday, reaching $17.39. The company had a trading volume of 1,910,000 shares, compared to its average volume of 6,521,023. The firm has a market capitalization of $5,800.77, a price-to-earnings ratio of 36.22, a P/E/G ratio of 3.13 and a beta of 2.02. Cypress Semiconductor has a 1 year low of $10.51 and a 1 year high of $17.42. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be given a $0.11 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.53%. Cypress Semiconductor’s dividend payout ratio (DPR) is -110.00%.
In other Cypress Semiconductor news, EVP Trent Thad sold 74,818 shares of the firm’s 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 directly owns 172,105 shares in the company, valued at approximately $2,714,095.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sam Geha sold 14,517 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $17.34, for a total value of $251,724.78. Following the sale, the senior vice president now owns 41,204 shares of the company’s stock, valued at $714,477.36. The disclosure for this sale can be found here. Insiders sold a total of 100,604 shares of company stock valued at $1,619,497 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CY. Capstone Asset Management Co. lifted its holdings in shares of Cypress Semiconductor by 0.8% during the 2nd quarter. Capstone Asset Management Co. now owns 23,441 shares of the semiconductor company’s stock valued at $320,000 after buying an additional 180 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Cypress Semiconductor by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 324 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cypress Semiconductor by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 119,589 shares of the semiconductor company’s stock valued at $1,632,000 after buying an additional 5,134 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cypress Semiconductor by 12.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 107,250 shares of the semiconductor company’s stock valued at $1,464,000 after buying an additional 11,511 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Cypress Semiconductor by 11.4% during the 2nd quarter. Aperio Group LLC now owns 65,056 shares of the semiconductor company’s stock valued at $888,000 after buying an additional 6,682 shares during the last quarter. Hedge funds and other institutional investors own 95.05% 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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