Cypress Semiconductor Corporation (NASDAQ:CY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Mizuho in a note issued to investors on Tuesday. They presently have a $17.00 target price on the semiconductor company’s stock. Mizuho’s target price points to a potential upside of 27.15% from the stock’s current price.

The analysts wrote, “We would use the pullback as a buying opportunity today. CY should see continued upside with Automotive tailwinds but also Nintendo Switch (~$5+ content) strong demand. We believe near-term Nintendo Switch demand remains strong.””

Other equities research analysts have also recently issued reports about the company. Loop Capital reiterated a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor Corporation in a report on Tuesday, August 22nd. Stephens reiterated an “overweight” rating on shares of Cypress Semiconductor Corporation in a report on Tuesday, May 9th. Barclays PLC upgraded Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $18.00 in a report on Wednesday, June 28th. KeyCorp set a $17.00 target price on Cypress Semiconductor Corporation and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Needham & Company LLC upped their target price on Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.75.

Cypress Semiconductor Corporation (CY) traded up 0.68% on Tuesday, hitting $13.37. 13,316,894 shares of the company were exchanged. The company’s market capitalization is $4.45 billion. The stock has a 50 day moving average of $13.97 and a 200 day moving average of $13.65. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11.

Cypress Semiconductor Corporation (NASDAQ:CY) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The business had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. During the same period in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Cypress Semiconductor Corporation will post $0.80 EPS for the current fiscal year.

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In other Cypress Semiconductor Corporation news, Director Oc Kwon sold 6,385 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $14.01, for a total value of $89,453.85. Following the completion of the sale, the director now directly owns 69,124 shares in the company, valued at $968,427.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $14.10, for a total value of $3,526,057.50. Following the completion of the sale, the executive vice president now owns 302,657 shares of the company’s stock, valued at $4,267,463.70. The disclosure for this sale can be found here. Insiders have sold a total of 336,460 shares of company stock valued at $4,703,111 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock worth $105,000 after buying an additional 794 shares during the period. Ffcm LLC boosted its stake in Cypress Semiconductor Corporation by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,740 shares during the period. Nordea Investment Management AB boosted its stake in Cypress Semiconductor Corporation by 101.7% in the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after buying an additional 4,600 shares during the period. ClariVest Asset Management LLC boosted its stake in Cypress Semiconductor Corporation by 101.7% in the first quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after buying an additional 4,600 shares during the period. Finally, ING Groep NV acquired a new stake in Cypress Semiconductor Corporation during the second quarter worth approximately $138,000. Institutional investors own 97.36% 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.

Analyst Recommendations for Cypress Semiconductor Corporation (NASDAQ:CY)

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