Morgan Stanley upgraded shares of Cypress Semiconductor (NASDAQ:CY) from an underweight rating to an equal weight rating in a report issued on Thursday, Benzinga reports. The firm currently has $15.50 price target on the semiconductor company’s stock, up from their previous price target of $11.50.

Several other research analysts have also recently issued reports on the company. BidaskClub cut Cypress Semiconductor from a buy rating to a hold rating in a research report on Wednesday, May 22nd. Zacks Investment Research raised Cypress Semiconductor from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Thursday, May 9th. Craig Hallum reaffirmed a buy rating and set a $20.00 price objective (up from $18.00) on shares of Cypress Semiconductor in a research report on Friday, April 26th. Mizuho reaffirmed a buy rating and set a $18.00 price objective on shares of Cypress Semiconductor in a research report on Friday, April 26th. Finally, Needham & Company LLC upped their target price on Cypress Semiconductor to $20.00 and gave the company a buy rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $17.42.

Shares of NASDAQ CY opened at $17.82 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $18.59. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 2.00 and a beta of 1.96.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $535.13 million. During the same quarter in the prior year, the business earned $0.27 EPS. Cypress Semiconductor’s revenue was down 7.4% on a year-over-year basis. On average, research analysts expect that Cypress Semiconductor will post 0.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 27th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is 37.93%.

In related news, EVP Trent Thad sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $15.35, for a total value of $260,950.00. Following the completion of the transaction, the executive vice president now directly owns 340,117 shares of the company’s stock, valued at approximately $5,220,795.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $15.19, for a total value of $45,570.00. Following the completion of the transaction, the executive vice president now directly owns 165,979 shares of the company’s stock, valued at $2,521,221.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,710 shares of company stock valued at $632,742. Company insiders own 0.55% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CY. Norges Bank purchased a new position in Cypress Semiconductor in the 4th quarter valued at approximately $48,029,000. Vanguard Group Inc grew its holdings in Cypress Semiconductor by 8.2% during the 3rd quarter. Vanguard Group Inc now owns 37,219,787 shares of the semiconductor company’s stock valued at $539,316,000 after buying an additional 2,820,094 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Cypress Semiconductor by 3,005.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,158,042 shares of the semiconductor company’s stock valued at $32,198,000 after buying an additional 2,088,542 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Cypress Semiconductor by 1,186.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,820,448 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 1,678,971 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Cypress Semiconductor by 103.2% during the 4th quarter. Millennium Management LLC now owns 2,865,315 shares of the semiconductor company’s stock valued at $36,447,000 after buying an additional 1,455,190 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Cypress Semiconductor Company Profile

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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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