Cypress Semiconductor (NASDAQ:CY) had its target price boosted by Needham & Company LLC to $20.00 in a research note released on Friday morning, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.
A number of other brokerages have also issued reports on CY. BidaskClub raised shares of Cypress Semiconductor from a hold rating to a buy rating in a report on Saturday, February 9th. Bank of America reaffirmed a buy rating and set a $18.00 price objective on shares of Cypress Semiconductor in a report on Thursday, March 14th. MKM Partners increased their price objective on shares of Cypress Semiconductor to $18.00 and gave the company a buy rating in a report on Friday, March 15th. Zacks Investment Research lowered shares of Cypress Semiconductor from a hold rating to a sell rating in a report on Monday, December 31st. Finally, ValuEngine lowered shares of Cypress Semiconductor from a hold rating to a sell rating in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $17.05.
NASDAQ CY opened at $16.15 on Friday. Cypress Semiconductor has a 52 week low of $11.75 and a 52 week high of $18.59. The stock has a market cap of $5.87 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.92. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.
Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. The company had revenue of $604.47 million during the quarter, compared to analyst estimates of $598.72 million. Cypress Semiconductor had a net margin of 14.28% and a return on equity of 22.01%. Sell-side analysts forecast that Cypress Semiconductor will post 0.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.72%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.19, for a total transaction of $45,570.00. Following the completion of the sale, the executive vice president now directly owns 165,979 shares in the company, valued at $2,521,221.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sam Geha sold 5,000 shares of Cypress Semiconductor stock in a transaction on Monday, April 8th. The stock was sold at an average price of $15.90, for a total value of $79,500.00. Following the sale, the executive vice president now owns 120,603 shares of the company’s stock, valued at $1,917,587.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,598 shares of company stock valued at $609,132. 0.55% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Essex Savings Bank purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at $25,000. Loeb Partners Corp purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at $25,000. Resources Investment Advisors Inc. increased its stake in shares of Cypress Semiconductor by 52.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 686 shares during the period. PRW Wealth Management LLC purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at $25,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
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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