Cypress Semiconductor Corporation (NASDAQ:CY) had its target price lifted by Needham & Company LLC from $18.00 to $20.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently commented on CY. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a hold rating to a buy rating and set a $15.00 price target for the company in a report on Thursday, June 29th. Bank of America Corp restated a buy rating and set a $18.00 price target on shares of Cypress Semiconductor Corporation in a report on Thursday, May 25th. Barclays PLC upgraded shares of Cypress Semiconductor Corporation from an equal weight rating to an overweight rating and raised their price target for the stock from $14.00 to $18.00 in a report on Wednesday, June 28th. Craig Hallum raised their price target on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a buy rating in a report on Friday. Finally, Mizuho raised their price target on shares of Cypress Semiconductor Corporation from $15.00 to $16.00 and gave the stock a buy rating in a report on Thursday, March 30th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $16.67.

Cypress Semiconductor Corporation (CY) opened at 14.05 on Friday. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $15.11. The company’s 50-day moving average is $13.90 and its 200 day moving average is $13.45. The firm’s market cap is $4.63 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts predict that Cypress Semiconductor Corporation will post $0.72 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 29th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.10%. The ex-dividend date was Tuesday, June 27th. Cypress Semiconductor Corporation’s payout ratio is presently -110.00%.

In other news, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $14.01, for a total value of $89,453.85. Following the transaction, the director now owns 69,124 shares of the company’s stock, valued at $968,427.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $13.31, for a total transaction of $665,500.00. Following the completion of the transaction, the director now directly owns 89,997 shares in the company, valued at approximately $1,197,860.07. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CY. Retirement Systems of Alabama raised its position in Cypress Semiconductor Corporation by 98.5% in the first quarter. Retirement Systems of Alabama now owns 823,313 shares of the semiconductor company’s stock worth $11,329,000 after buying an additional 408,557 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Cypress Semiconductor Corporation by 94.7% in the first quarter. Rice Hall James & Associates LLC now owns 1,298,821 shares of the semiconductor company’s stock worth $17,872,000 after buying an additional 631,897 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cypress Semiconductor Corporation by 80.2% in the first quarter. Nisa Investment Advisors LLC now owns 95,739 shares of the semiconductor company’s stock worth $1,317,000 after buying an additional 42,600 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Cypress Semiconductor Corporation by 4.3% in the first quarter. Louisiana State Employees Retirement System now owns 82,800 shares of the semiconductor company’s stock worth $1,139,000 after buying an additional 3,400 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in Cypress Semiconductor Corporation by 3.9% in the first quarter. Capstone Asset Management Co. now owns 23,261 shares of the semiconductor company’s stock worth $320,000 after buying an additional 880 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

Cypress Semiconductor Corporation Company Profile

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.

Analyst Recommendations for Cypress Semiconductor Corporation (NASDAQ:CY)

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