Cypress Semiconductor Corporation (CY) to Release Earnings on Thursday
Cypress Semiconductor Corporation (NASDAQ:CY) will release its earnings data after the market closes on Thursday, October 26th. Analysts expect Cypress Semiconductor Corporation to post earnings of $0.21 per share for the quarter. Cypress Semiconductor Corporation has set its Q3 guidance at $0.21-0.25 EPS.
Cypress Semiconductor Corporation (NASDAQ:CY) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The company had revenue of $593.80 million for the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. Cypress Semiconductor Corporation’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. On average, analysts expect Cypress Semiconductor Corporation to post $0.80 EPS for the current fiscal year and $1.13 EPS for the next fiscal year.
Shares of Cypress Semiconductor Corporation (CY) opened at 15.65 on Thursday. Cypress Semiconductor Corporation has a 1-year low of $9.63 and a 1-year high of $16.11. The company’s market capitalization is $5.20 billion. The company has a 50 day moving average price of $14.72 and a 200 day moving average price of $13.98.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio is -110.00%.
In other news, EVP Trent Thad sold 74,818 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.77, for a total transaction of $1,179,879.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Camillo Martino bought 10,000 shares of Cypress Semiconductor Corporation stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $258,400. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 60,000 shares of company stock worth $834,100 and have sold 354,893 shares worth $5,128,037. Company insiders own 0.69% of the company’s stock.
A number of analysts recently weighed in on CY shares. SunTrust Banks, Inc. reissued a “buy” rating and issued a $19.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Monday, October 9th. Bank of America Corporation reissued a “buy” rating on shares of Cypress Semiconductor Corporation in a research report on Sunday, October 1st. BidaskClub raised shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $13.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. Cypress Semiconductor Corporation has a consensus rating of “Buy” and a consensus target price of $17.09.
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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.
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