Loop Capital reissued their buy rating on shares of Cypress Semiconductor Corporation (NASDAQ:CY) in a research note issued to investors on Friday morning. The brokerage currently has a $17.00 target price on the semiconductor company’s stock.

A number of other equities research analysts have also commented on the company. Barclays PLC upgraded Cypress Semiconductor Corporation from an equal weight rating to an overweight rating and upped their price target for the company from $14.00 to $18.00 in a research report on Wednesday, June 28th. Zacks Investment Research raised Cypress Semiconductor Corporation from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research note on Thursday, June 29th. Bank of America Corp reissued a buy rating and issued a $18.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Thursday, May 25th. Stephens reissued an overweight rating on shares of Cypress Semiconductor Corporation in a research note on Tuesday, May 9th. Finally, KeyCorp reissued an overweight rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $16.67.

Cypress Semiconductor Corporation (NASDAQ:CY) traded up 0.951% during trading on Friday, reaching $14.335. The company’s stock had a trading volume of 2,785,129 shares. Cypress Semiconductor Corporation has a 52-week low of $9.63 and a 52-week high of $15.11. The firm has a 50 day moving average price of $13.90 and a 200-day moving average price of $13.45. The stock’s market cap is $4.73 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $593.80 million for the quarter, compared to analyst estimates of $546.82 million. During the same quarter in the previous year, the company posted $0.13 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Cypress Semiconductor Corporation will post $0.72 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 29th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, June 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is currently -110.00%.

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

A number of hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama raised its stake in shares of 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 stake in shares of 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 stake in shares of 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 stake in shares of 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 stake in shares of 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 owned by hedge funds and other 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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