Cypress Semiconductor (CY) Upgraded at BidaskClub
BidaskClub upgraded shares of Cypress Semiconductor (NASDAQ:CY) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.
Several other equities research analysts have also issued reports on the stock. Loop Capital reiterated a buy rating and set a $20.00 target price (up from $17.00) on shares of Cypress Semiconductor in a research report on Friday, October 27th. Needham & Company LLC restated a buy rating and issued a $20.00 price objective on shares of Cypress Semiconductor in a report on Friday, October 27th. Zacks Investment Research lowered shares of Cypress Semiconductor from a strong-buy rating to a hold rating in a report on Wednesday, November 1st. Craig Hallum restated a buy rating and issued a $21.00 price objective on shares of Cypress Semiconductor in a report on Tuesday, December 5th. Finally, Morgan Stanley restated an underweight rating and issued a $14.50 price objective on shares of Cypress Semiconductor in a report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $18.04.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.16 during trading on Friday, reaching $16.80. 4,601,300 shares of the company’s stock traded hands, compared to its average volume of 4,919,980. Cypress Semiconductor has a twelve month low of $10.99 and a twelve month high of $17.42. The company has a market capitalization of $5,560.00, a price-to-earnings ratio of -42.00, a PEG ratio of 1.91 and a beta of 2.01. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60.
Cypress Semiconductor (NASDAQ:CY) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Cypress Semiconductor had a net margin of 2.64% and a return on equity of 2.40%. The business had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. During the same period in the previous year, the business posted $0.15 earnings per share. Cypress Semiconductor’s revenue for the quarter was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor will post 0.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.62%. Cypress Semiconductor’s payout ratio is -110.00%.
In related news, EVP Trent Thad sold 74,818 shares of Cypress Semiconductor stock in a transaction on Monday, October 16th. The shares were sold at an average price of $15.77, for a total value of $1,179,879.86. Following the transaction, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at $2,714,095.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $16.60, for a total transaction of $49,800.00. Following the completion of the transaction, the senior vice president now directly owns 70,607 shares in the company, valued at $1,172,076.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,604 shares of company stock valued at $1,666,027. Company insiders own 0.69% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Cypress Semiconductor by 15.8% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after purchasing an additional 210,992 shares during the period. HAP Trading LLC purchased a new position in Cypress Semiconductor during the 3rd quarter valued at $5,386,000. Westfield Capital Management Co. LP purchased a new position in Cypress Semiconductor during the 3rd quarter valued at $53,009,000. Brookstone Capital Management increased its position in Cypress Semiconductor by 33.1% during the 3rd quarter. Brookstone Capital Management now owns 27,370 shares of the semiconductor company’s stock valued at $411,000 after purchasing an additional 6,806 shares during the period. Finally, Phocas Financial Corp. increased its position in Cypress Semiconductor by 4.5% during the 2nd quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock valued at $13,517,000 after purchasing an additional 42,607 shares during the period. 97.38% of the stock is currently owned by institutional investors.
Cypress Semiconductor 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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