Cypress Semiconductor (NASDAQ:CY) had its price objective raised by equities research analysts at Craig Hallum from $21.00 to $23.00 in a research note issued on Friday, February 2nd. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target suggests a potential upside of 46.31% from the stock’s current price.
CY has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor in a research note on Friday, October 27th. BidaskClub upgraded shares of Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Piper Jaffray Companies initiated coverage on shares of Cypress Semiconductor in a research note on Monday, December 18th. They issued an “overweight” rating and a $20.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of Cypress Semiconductor from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.04.
Cypress Semiconductor (NASDAQ CY) opened at $15.72 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 0.53. Cypress Semiconductor has a 1 year low of $12.32 and a 1 year high of $17.90. The firm has a market cap of $5,128.43, a P/E ratio of -56.14, a P/E/G ratio of 0.99 and a beta of 2.17.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. The company had revenue of $597.54 million during the quarter, compared to analysts’ expectations of $593.15 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. analysts expect that Cypress Semiconductor will post 0.92 earnings per share for the current fiscal year.
In other news, SVP Sam Geha sold 14,517 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total value of $251,724.78. Following the completion of the transaction, the senior vice president now owns 41,204 shares of the company’s stock, valued at $714,477.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $15.51, for a total transaction of $46,530.00. Following the completion of the transaction, the senior vice president now directly owns 68,445 shares of the company’s stock, valued at approximately $1,061,581.95. The disclosure for this sale can be found here. Insiders sold 23,517 shares of company stock worth $399,295 in the last ninety days. Insiders own 0.69% of the company’s stock.
A number of hedge funds have recently modified their holdings of CY. Villere ST Denis J & Co. LLC acquired a new position in Cypress Semiconductor during the fourth quarter worth approximately $69,678,000. Westfield Capital Management Co. LP purchased a new stake in Cypress Semiconductor during the third quarter worth approximately $53,009,000. Ameriprise Financial Inc. grew its stake in Cypress Semiconductor by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock worth $184,179,000 after buying an additional 3,116,871 shares during the period. TCW Group Inc. grew its stake in Cypress Semiconductor by 13.8% during the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock worth $202,214,000 after buying an additional 1,628,930 shares during the period. Finally, First Trust Advisors LP grew its stake in Cypress Semiconductor by 113.9% during the fourth quarter. First Trust Advisors LP now owns 1,871,612 shares of the semiconductor company’s stock worth $28,523,000 after buying an additional 996,755 shares during the period. 98.12% of the stock is owned by hedge funds and other 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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