Cypress Semiconductor (NASDAQ:CY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, February 7th.
According to Zacks, “Cypress Semiconductor reported strong fourth-quarter 2017 results. Both revenues and earnings increased on a year-over-year basis. The company is currently benefiting from improvement in automotive, IoT wireless connectivity and USB-C solutions. Cypress’ advanced technology, momentum in new products, increased customer wins and growth initiatives are encouraging. The acquisition of Wireless Internet of Things (IoT) business has further strengthened the company’s dominant position in the IoT market. However, weak and uncertain macro environment remain concerns. In the past 12-months, the stock has underperformed the industry it belongs to.”
CY has been the topic of a number of other research reports. KeyCorp raised their price target on Cypress Semiconductor from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. SunTrust Banks reissued a “hold” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a report on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating on shares of Cypress Semiconductor in a report on Friday, February 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.00 price objective on shares of Cypress Semiconductor in a report on Monday, January 29th. Finally, Susquehanna Bancshares began coverage on Cypress Semiconductor in a report on Wednesday, December 13th. They set a “positive” rating and a $20.00 price objective for the company. 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. The company has a consensus rating of “Buy” and an average target price of $19.04.
Shares of Cypress Semiconductor (CY) traded down $0.03 during trading on Wednesday, hitting $15.69. The stock had a trading volume of 5,221,600 shares, compared to its average volume of 6,227,005. Cypress Semiconductor has a twelve month low of $12.46 and a twelve month high of $17.90. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 0.53. The firm has a market cap of $5,240.00, a price-to-earnings ratio of -56.04, a PEG ratio of 1.01 and a beta of 2.17.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $597.54 million for the quarter, compared to analyst estimates of $593.15 million. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. Cypress Semiconductor’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. research analysts expect that Cypress Semiconductor will post 0.92 earnings per share for the current year.
In other Cypress Semiconductor news, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 70,607 shares of the company’s stock, valued at $1,172,076.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Sam Geha sold 14,517 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total value of $251,724.78. Following the sale, the senior vice president now directly owns 41,204 shares of the company’s stock, valued at approximately $714,477.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,517 shares of company stock valued at $399,295. Company insiders own 0.69% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Stifel Financial Corp increased its holdings in 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 last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cypress Semiconductor by 1.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,458 shares of the semiconductor company’s stock valued at $675,000 after purchasing an additional 851 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Cypress Semiconductor by 0.8% during the second quarter. Macquarie Group Ltd. now owns 193,193 shares of the semiconductor company’s stock valued at $2,637,000 after purchasing an additional 1,468 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Cypress Semiconductor by 1.9% during the second quarter. Ameritas Investment Partners Inc. now owns 98,585 shares of the semiconductor company’s stock valued at $1,346,000 after purchasing an additional 1,796 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in shares of Cypress Semiconductor by 12.5% during the second quarter. First Allied Advisory Services Inc. now owns 16,458 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 1,830 shares during the last quarter. Institutional investors own 98.12% of the company’s stock.
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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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