BidaskClub cut shares of Cypress Semiconductor (NASDAQ:CY) from a sell rating to a strong sell rating in a report released on Tuesday, BidAskClub reports.

A number of other analysts also recently weighed in on the company. Craig Hallum downgraded Cypress Semiconductor from a buy rating to a hold rating in a report on Monday, June 3rd. Morgan Stanley upgraded Cypress Semiconductor from an underweight rating to an equal weight rating and increased their price objective for the company from $11.50 to $15.50 in a report on Thursday, May 30th. ValuEngine upgraded Cypress Semiconductor from a hold rating to a buy rating in a report on Monday, June 3rd. Needham & Company LLC downgraded Cypress Semiconductor from a buy rating to a hold rating in a report on Monday, June 3rd. Finally, Roth Capital downgraded Cypress Semiconductor from a buy rating to a neutral rating and increased their price target for the stock from $20.00 to $24.00 in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $20.75.

NASDAQ CY traded up $0.01 on Tuesday, reaching $23.34. The company had a trading volume of 731,950 shares, compared to its average volume of 4,287,646. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 20.12 and a beta of 1.85. Cypress Semiconductor has a fifty-two week low of $11.75 and a fifty-two week high of $23.38. The business has a 50 day moving average of $22.93 and a two-hundred day moving average of $19.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.91 and a quick ratio of 1.31.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The company had revenue of $532.20 million during the quarter, compared to analyst estimates of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. As a group, research analysts predict that Cypress Semiconductor will post 0.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.44 annualized dividend and a dividend yield of 1.89%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.

In related news, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.32, for a total value of $446,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $22.18, for a total transaction of $66,540.00. Following the completion of the transaction, the executive vice president now directly owns 163,644 shares in the company, valued at approximately $3,629,623.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,000 shares of company stock valued at $649,080. 0.55% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its position in Cypress Semiconductor by 101.0% in the 1st quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,102 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Cypress Semiconductor by 73.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 974 shares in the last quarter. Wealthcare Capital Management LLC bought a new position in Cypress Semiconductor in the 2nd quarter valued at about $111,000. ETF Managers Group LLC lifted its position in Cypress Semiconductor by 8.6% in the 1st quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 680 shares in the last quarter. Finally, Sawtooth Solutions LLC bought a new position in Cypress Semiconductor in the 1st quarter valued at about $168,000. 80.98% of the stock is currently owned by institutional investors and hedge funds.

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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