Cypress Semiconductor Corporation (CY) Given “Buy” Rating at Loop Capital
Loop Capital reissued their buy rating on shares of Cypress Semiconductor Corporation (NASDAQ:CY) in a research report report published on Monday morning. Loop Capital currently has a $20.00 target price on the semiconductor company’s stock.
Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Cypress Semiconductor Corporation from a hold rating to a buy rating in a research report on Thursday, September 21st. Craig Hallum reissued a buy rating and set a $20.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Thursday, August 31st. Needham & Company LLC reissued a buy rating and set a $20.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Monday, September 18th. Credit Suisse Group boosted their price objective on shares of Cypress Semiconductor Corporation from $14.00 to $15.00 and gave the company a neutral rating in a research report on Friday, October 27th. Finally, KeyCorp set a $17.00 price objective on shares of Cypress Semiconductor Corporation and gave the company a buy rating in a research report on Wednesday, July 26th. One 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’s stock. The stock presently has an average rating of Buy and an average price target of $17.67.
Cypress Semiconductor Corporation (NASDAQ CY) opened at $17.27 on Monday. Cypress Semiconductor Corporation has a 1-year low of $10.51 and a 1-year high of $17.42. The firm has a market cap of $5,732.36, a P/E ratio of 35.79, a P/E/G ratio of 3.10 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings data 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 company had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is -110.00%.
In other news, SVP Sam Geha sold 8,269 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $16.70, for a total transaction of $138,092.30. Following the sale, the senior vice president now directly owns 63,000 shares in the company, valued at approximately $1,052,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Trent Thad sold 74,818 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.77, for a total transaction of $1,179,879.86. Following the sale, the executive vice president now owns 172,105 shares in the company, valued at $2,714,095.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,087 shares of company stock worth $1,367,772. 0.69% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Cypress Semiconductor Corporation by 15.8% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after purchasing an additional 210,992 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Cypress Semiconductor Corporation by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 989 shares during the last quarter. Blair William & Co. IL bought a new position in Cypress Semiconductor Corporation during the 2nd quarter valued at about $995,000. Northpointe Capital LLC grew its holdings in Cypress Semiconductor Corporation by 69.2% during the 2nd quarter. Northpointe Capital LLC now owns 541,074 shares of the semiconductor company’s stock valued at $7,386,000 after purchasing an additional 221,288 shares during the last quarter. Finally, Phocas Financial Corp. grew its holdings in Cypress Semiconductor Corporation by 4.5% during the 2nd quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock valued at $13,517,000 after purchasing an additional 42,607 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.
About Cypress Semiconductor Corporation
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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