KeyCorp set a $17.00 target price on Cypress Semiconductor Corporation (NASDAQ:CY) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the semiconductor company’s stock.

CY has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a hold rating to a buy rating and set a $15.00 target price on the stock in a report on Tuesday, May 2nd. SunTrust Banks, Inc. upgraded shares of Cypress Semiconductor Corporation from a neutral rating to a buy rating and upped their target price for the company from $13.59 to $17.00 in a report on Monday, April 10th. Mizuho restated a buy rating and issued a $16.00 target price on shares of Cypress Semiconductor Corporation in a report on Monday, April 24th. Credit Suisse Group restated a neutral rating on shares of Cypress Semiconductor Corporation in a report on Thursday, March 30th. Finally, Loop Capital restated a buy rating and issued a $16.00 target price on shares of Cypress Semiconductor Corporation in a report on Wednesday, March 29th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $16.67.

Shares of Cypress Semiconductor Corporation (CY) opened at 14.66 on Wednesday. The company’s 50-day moving average is $13.89 and its 200 day moving average is $13.41. Cypress Semiconductor Corporation has a 52-week low of $9.63 and a 52-week high of $15.11. The firm’s market capitalization is $4.84 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.21%. The business had revenue of $593.80 million for the quarter, compared to analyst estimates of $546.82 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts expect that Cypress Semiconductor Corporation will post $0.72 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Cypress Semiconductor Corporation (NASDAQ:CY) PT Set at $17.00 by KeyCorp” was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/cypress-semiconductor-corporation-nasdaqcy-pt-set-at-17-00-by-keycorp/1462291.html.

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, June 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.

In other news, Director Eric Benhamou sold 50,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Oc Kwon sold 6,385 shares of the 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 disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC boosted its position in Cypress Semiconductor Corporation by 374.3% in the second quarter. Essex Investment Management Co. LLC now owns 231,166 shares of the semiconductor company’s stock valued at $3,155,000 after buying an additional 182,428 shares during the period. Texas Permanent School Fund boosted its position in Cypress Semiconductor Corporation by 0.7% in the second quarter. Texas Permanent School Fund now owns 240,524 shares of the semiconductor company’s stock valued at $3,283,000 after buying an additional 1,720 shares during the period. World Asset Management Inc boosted its position in Cypress Semiconductor Corporation by 4.9% in the second quarter. World Asset Management Inc now owns 21,129 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 987 shares during the period. CAPROCK Group Inc. acquired a new position in Cypress Semiconductor Corporation during the second quarter valued at approximately $826,000. Finally, CIBC Asset Management Inc boosted its position in Cypress Semiconductor Corporation by 33.7% in the second quarter. CIBC Asset Management Inc now owns 32,021 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 8,070 shares during the period. Institutional investors own 95.17% of the company’s stock.

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)

Receive News & Ratings for Cypress Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.