Wall Street brokerages expect Cypress Semiconductor Co. (NASDAQ:CY) to report earnings per share of $0.24 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Cypress Semiconductor’s earnings. Cypress Semiconductor reported earnings per share of $0.13 in the same quarter last year, which would indicate a positive year over year growth rate of 84.6%. The business is expected to issue its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Cypress Semiconductor will report full-year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.13 to $1.27. For the next financial year, analysts anticipate that the company will report earnings of $1.41 per share, with EPS estimates ranging from $1.29 to $1.51. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $597.54 million during the quarter, compared to the consensus estimate of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share.
Several equities analysts have issued reports on the stock. SunTrust Banks restated a “hold” rating and issued a $19.00 price objective on shares of Cypress Semiconductor in a research note on Friday, February 2nd. KeyCorp upped their price objective on shares of Cypress Semiconductor from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Needham & Company LLC restated a “buy” rating on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $22.00 price objective on shares of Cypress Semiconductor in a research note on Monday, January 29th. Finally, Susquehanna Bancshares assumed coverage on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. They issued a “positive” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Cypress Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $19.04.
Cypress Semiconductor (CY) traded down $0.20 during midday trading on Friday, reaching $16.15. 4,510,900 shares of the company’s stock traded hands, compared to its average volume of 6,155,001. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. Cypress Semiconductor has a one year low of $12.46 and a one year high of $17.90. The firm has a market capitalization of $5,390.00, a P/E ratio of -57.68, a PEG ratio of 1.04 and a beta of 2.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, March 29th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.72%. Cypress Semiconductor’s dividend payout ratio is currently -157.14%.
In other Cypress Semiconductor news, SVP Sam Geha sold 14,517 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the transaction, the senior vice president now directly owns 41,204 shares in the company, valued at $714,477.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $17.08, for a total transaction of $51,240.00. Following the transaction, the senior vice president now owns 65,445 shares in the company, valued at $1,117,800.60. The disclosure for this sale can be found here. Insiders have sold 20,517 shares of company stock valued at $349,495 over the last three months. 0.69% of the stock is currently owned by corporate insiders.
A number of institutional investors and 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 about $69,678,000. Westfield Capital Management Co. LP acquired a new position in Cypress Semiconductor during the third quarter worth about $53,009,000. Ameriprise Financial Inc. grew its position 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 position in shares of Cypress Semiconductor by 13.8% in the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock valued at $202,214,000 after purchasing an additional 1,628,930 shares during the last quarter. Finally, Garelick Capital Partners LP acquired a new stake in shares of Cypress Semiconductor in the fourth quarter valued at approximately $19,356,000. Institutional investors own 91.22% of the company’s stock.
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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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