A number of other research analysts have also recently weighed in on CY. ValuEngine raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Craig Hallum lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. SunTrust Banks raised their target price on shares of Cypress Semiconductor to $23.85 in a research report on Tuesday, June 4th. They noted that the move was a valuation call. Morgan Stanley upgraded shares of Cypress Semiconductor from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $11.50 to $15.50 in a research report on Thursday, May 30th. Finally, MKM Partners restated a “neutral” rating and set a $23.85 target price (up previously from $20.00) on shares of Cypress Semiconductor in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.75.
NASDAQ CY traded up $0.07 during trading hours on Tuesday, hitting $23.34. 2,536,783 shares of the stock were exchanged, compared to its average volume of 6,263,872. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 20.12 and a beta of 1.85. Cypress Semiconductor has a 12-month low of $11.75 and a 12-month high of $23.29. The stock has a 50-day moving average of $22.93 and a 200 day moving average of $19.27. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.41.
Cypress Semiconductor (NASDAQ:CY) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The company had revenue of $532.20 million during the quarter, compared to analysts’ expectations of $530.96 million. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was down 14.7% on a year-over-year basis. On average, equities research analysts expect that Cypress Semiconductor will post 0.9 earnings per share for the current year.
In related news, CEO Hassane El-Khoury sold 20,000 shares of Cypress Semiconductor stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.32, for a total transaction of $446,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $22.18, for a total transaction of $66,540.00. Following the sale, the executive vice president now directly owns 163,644 shares in the company, valued at approximately $3,629,623.92. The disclosure for this sale can be found here. In the last three months, insiders sold 29,000 shares of company stock worth $649,080. Insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CY. Pentwater Capital Management LP bought a new stake in shares of Cypress Semiconductor in the 2nd quarter worth about $227,293,000. Magnetar Financial LLC acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $189,280,000. Alpine Associates Management Inc. acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $112,558,000. Omni Partners LLP acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $83,909,000. Finally, Carlson Capital L P acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $61,997,000. 80.98% of the stock is owned by institutional investors.
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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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