Stock analysts at Piper Jaffray Companies began coverage on shares of Cypress Semiconductor (NASDAQ:CY) in a research report issued on Monday, December 18th, MarketBeat.com reports. The brokerage set an “overweight” rating and a $20.00 price target on the semiconductor company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 18.55% from the stock’s current price.
Other equities analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a research report on Friday, October 27th. BidaskClub downgraded Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 21st. SunTrust Banks reiterated a “buy” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a report on Thursday, October 12th. Bank of America reiterated a “buy” rating on shares of Cypress Semiconductor in a report on Sunday, October 1st. Finally, Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.04.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.26 on Monday, hitting $16.87. The company’s stock had a trading volume of 4,466,900 shares, compared to its average volume of 6,340,000. Cypress Semiconductor has a one year low of $10.99 and a one year high of $17.42. The firm has a market cap of $5,630.00, a price-to-earnings ratio of -42.18, a price-to-earnings-growth ratio of 1.91 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35.
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 Zacks’ consensus estimate of $0.23 by $0.04. Cypress Semiconductor had a return on equity of 2.40% and a net margin of 2.64%. The company had revenue of $604.57 million for the quarter, compared to analyst estimates of $602.16 million. During the same period in the prior year, the company posted $0.15 EPS. Cypress Semiconductor’s quarterly revenue was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor will post 0.56 earnings per share for the current year.
In related news, SVP Sam Geha sold 14,517 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $17.34, for a total transaction of $251,724.78. Following the completion of the transaction, the senior vice president now directly owns 41,204 shares in the company, valued at approximately $714,477.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Trent Thad sold 74,818 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $15.77, for a total value of $1,179,879.86. Following the completion of the transaction, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,604 shares of company stock valued at $1,666,027. 0.69% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Cigna Investments Inc. New grew its stake in shares of Cypress Semiconductor by 0.6% in the second quarter. Cigna Investments Inc. New now owns 12,584 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 72 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cypress Semiconductor by 0.3% in the second quarter. ProShare Advisors LLC now owns 47,595 shares of the semiconductor company’s stock valued at $650,000 after buying an additional 162 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Cypress Semiconductor by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,079 shares of the semiconductor company’s stock valued at $656,000 after buying an additional 182 shares during the period. Bank of Montreal Can lifted its holdings in shares of Cypress Semiconductor by 1.6% in the second quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 324 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Cypress Semiconductor by 0.4% in the second quarter. Stifel Financial Corp now owns 115,674 shares of the semiconductor company’s stock valued at $1,579,000 after buying an additional 449 shares during the period. 97.38% of the stock is owned by institutional investors.
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About Cypress Semiconductor
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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