Cypress Semiconductor Co. (NASDAQ:CY) announced a quarterly dividend on Tuesday, February 19th, Zacks reports. Investors of record on Thursday, March 28th will be given a dividend of 0.11 per share by the semiconductor company on Thursday, April 18th. This represents a $0.44 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, March 27th.
Cypress Semiconductor has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cypress Semiconductor to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 42.3%.
CY stock opened at $15.52 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.49 billion, a P/E ratio of 13.38, a PEG ratio of 1.77 and a beta of 1.93. Cypress Semiconductor has a 12-month low of $11.75 and a 12-month high of $18.59.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.03. The firm had revenue of $604.47 million for the quarter, compared to the consensus estimate of $598.72 million. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. On average, research analysts expect that Cypress Semiconductor will post 0.85 EPS for the current year.
In other news, EVP Sudhir Gopalswamy sold 12,598 shares of the company’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $14.00, for a total transaction of $176,372.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 4,300 shares of the company’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $13.00, for a total value of $55,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,898 shares of company stock valued at $585,532. Insiders own 0.43% of the company’s stock.
Several brokerages have weighed in on CY. BidaskClub downgraded Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. Zacks Investment Research downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, December 31st. ValuEngine downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Craig Hallum restated a “buy” rating and set a $18.00 price target (down previously from $20.00) on shares of Cypress Semiconductor in a report on Friday, February 1st. Finally, Needham & Company LLC restated a “buy” rating on shares of Cypress Semiconductor in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.32.
About Cypress Semiconductor
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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