Zacks Investment Research lowered shares of Cypress Semiconductor (NASDAQ:CY) from a strong-buy rating to a sell rating in a research note released on Wednesday.

According to Zacks, “Cypress is currently suffering from intensifying competition in the semiconductor industry. This might put the company under pressure to lower its prices which will hurt its profitability.  Notably, shares of the company have underperformed the industry it belongs to over a year. However, Cypress remains optimistic on the proper execution of management’s strategy of delivering the complete package of connect, compute and store solutions. This is expected to aid the company’s performance across all the end markets. Further, the company’s exposure to IoT, automotive, and industrial markets remains positive. Nevertheless, the ongoing trade tensions between the United States and China pose a serious threat to the company’s growth in the near terms.”

Several other analysts have also issued reports on CY. BidaskClub upgraded shares of Cypress Semiconductor from a sell rating to a hold rating in a research report on Saturday, September 22nd. Barclays reissued a hold rating and issued a $18.00 price objective on shares of Cypress Semiconductor in a research note on Sunday, July 29th. Morgan Stanley dropped their price objective on shares of Cypress Semiconductor from $15.00 to $13.00 and set an underweight rating for the company in a research note on Monday. TheStreet raised shares of Cypress Semiconductor from a c+ rating to a b rating in a research note on Friday, July 27th. Finally, Needham & Company LLC reissued a buy rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a research note on Friday, July 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Cypress Semiconductor currently has an average rating of Hold and a consensus target price of $19.85.

Shares of NASDAQ CY traded up $0.12 during trading hours on Wednesday, hitting $14.50. 96,196 shares of the stock were exchanged, compared to its average volume of 6,405,519. The company has a current ratio of 1.37, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 0.85 and a beta of 1.98. Cypress Semiconductor has a 1-year low of $14.16 and a 1-year high of $18.87.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The business had revenue of $624.00 million for the quarter, compared to analyst estimates of $618.49 million. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. equities research analysts forecast that Cypress Semiconductor will post 1.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Thursday, September 27th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, September 26th. Cypress Semiconductor’s payout ratio is 73.33%.

In related news, EVP Sudhir Gopalswamy sold 2,017 shares of the stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $16.80, for a total value of $33,885.60. Following the completion of the transaction, the executive vice president now owns 122,174 shares of the company’s stock, valued at approximately $2,052,523.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 11,017 shares of company stock valued at $177,676. 0.43% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Cypress Semiconductor by 6.2% during the second quarter. Northern Trust Corp now owns 2,840,723 shares of the semiconductor company’s stock valued at $44,258,000 after acquiring an additional 165,345 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Cypress Semiconductor by 30.1% during the second quarter. Public Employees Retirement System of Ohio now owns 292,584 shares of the semiconductor company’s stock worth $4,558,000 after buying an additional 67,777 shares during the last quarter. Global X Management Co LLC raised its stake in Cypress Semiconductor by 9.4% during the second quarter. Global X Management Co LLC now owns 296,802 shares of the semiconductor company’s stock worth $4,624,000 after buying an additional 25,561 shares during the last quarter. California Public Employees Retirement System raised its stake in Cypress Semiconductor by 5.5% during the second quarter. California Public Employees Retirement System now owns 1,336,005 shares of the semiconductor company’s stock worth $20,815,000 after buying an additional 70,063 shares during the last quarter. Finally, Kopp Investment Advisors LLC raised its stake in Cypress Semiconductor by 68.7% during the second quarter. Kopp Investment Advisors LLC now owns 245,484 shares of the semiconductor company’s stock worth $3,825,000 after buying an additional 99,953 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

About Cypress Semiconductor

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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