Wall Street analysts predict that Cypress Semiconductor Corporation (NASDAQ:CY) will announce sales of $604.69 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cypress Semiconductor Corporation’s earnings, with the lowest sales estimate coming in at $600.00 million and the highest estimate coming in at $611.40 million. Cypress Semiconductor Corporation posted sales of $530.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The firm is scheduled to report its next earnings results after the market closes on Thursday, October 26th.
On average, analysts expect that Cypress Semiconductor Corporation will report full year sales of $604.69 million for the current fiscal year, with estimates ranging from $2.31 billion to $2.36 billion. For the next financial year, analysts expect that the firm will report sales of $2.48 billion per share, with estimates ranging from $2.39 billion to $2.58 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cypress Semiconductor Corporation.
Cypress Semiconductor Corporation (NASDAQ:CY) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million for the quarter, compared to analyst estimates of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS.
Several equities analysts have recently commented on CY shares. TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. KeyCorp reaffirmed an “overweight” rating on shares of Cypress Semiconductor Corporation in a research report on Thursday, September 14th. Bank of America Corporation reaffirmed a “buy” rating on shares of Cypress Semiconductor Corporation in a research report on Sunday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a research report on Monday, October 9th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.09.
Shares of Cypress Semiconductor Corporation (NASDAQ:CY) opened at 15.86 on Wednesday. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $16.11. The firm has a 50 day moving average price of $14.54 and a 200-day moving average price of $13.93. The company’s market cap is $5.27 billion.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, September 27th. Cypress Semiconductor Corporation’s payout ratio is -110.00%.
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In other Cypress Semiconductor Corporation news, Director Camillo Martino purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $258,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael S. Wishart sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total value of $422,100.00. Following the sale, the director now owns 65,256 shares of the company’s stock, valued at $918,151.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 60,000 shares of company stock valued at $834,100. 0.69% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in Cypress Semiconductor Corporation by 13,107.4% in the 1st quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock valued at $380,014,000 after acquiring an additional 27,408,148 shares in the last quarter. FMR LLC lifted its position in Cypress Semiconductor Corporation by 310.3% in the 2nd quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock valued at $168,875,000 after acquiring an additional 9,356,825 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in Cypress Semiconductor Corporation in the 2nd quarter valued at about $83,217,000. JPMorgan Chase & Co. lifted its position in Cypress Semiconductor Corporation by 247.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock valued at $108,483,000 after acquiring an additional 5,658,750 shares in the last quarter. Finally, Park West Asset Management LLC bought a new position in Cypress Semiconductor Corporation in the 1st quarter valued at about $28,395,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.
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.
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