Equities research analysts predict that Cypress Semiconductor Co. (NASDAQ:CY) will post $569.23 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Cypress Semiconductor’s earnings, with the lowest sales estimate coming in at $562.40 million and the highest estimate coming in at $575.70 million. Cypress Semiconductor posted sales of $673.04 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Cypress Semiconductor will report full year sales of $2.20 billion for the current year, with estimates ranging from $2.19 billion to $2.21 billion. For the next financial year, analysts anticipate that the company will report sales of $2.33 billion, with estimates ranging from $2.28 billion to $2.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $532.20 million for the quarter, compared to analyst estimates of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. Cypress Semiconductor’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS.
Several research analysts recently issued reports on the stock. Mizuho reiterated a “hold” rating and issued a $23.85 target price on shares of Cypress Semiconductor in a research report on Monday, July 29th. Susquehanna Bancshares lowered shares of Cypress Semiconductor from a “positive” rating to a “neutral” rating in a research report on Monday, June 3rd. BidaskClub upgraded shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays reiterated a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research report on Thursday, June 6th. Finally, Morgan Stanley upgraded shares of Cypress Semiconductor from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $11.50 to $15.50 in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $20.75.
Shares of CY traded down $0.01 during mid-day trading on Wednesday, reaching $22.95. 2,559,963 shares of the stock traded hands, compared to its average volume of 6,407,913. The firm has a fifty day moving average price of $22.63 and a 200 day moving average price of $18.37. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.56 and a beta of 1.86. The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.41. Cypress Semiconductor has a 1 year low of $11.75 and a 1 year high of $23.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.92%. Cypress Semiconductor’s dividend payout ratio (DPR) is 37.93%.
In other news, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $22.16, for a total transaction of $443,200.00. Following the completion of the transaction, the chief executive officer now directly owns 521,745 shares of the company’s stock, valued at $11,561,869.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sam Geha sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $22.39, for a total transaction of $111,950.00. Following the transaction, the executive vice president now directly owns 115,655 shares of the company’s stock, valued at $2,589,515.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,000 shares of company stock valued at $1,135,440. Insiders own 0.55% of the company’s stock.
Several large investors have recently modified their holdings of the company. Sterling Investment Advisors Ltd. bought a new position in Cypress Semiconductor in the first quarter worth about $30,000. Quadrant Capital Group LLC raised its stake in Cypress Semiconductor by 101.0% in the first quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,102 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in Cypress Semiconductor by 73.8% in the second quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 974 shares during the period. Investors Research Corp purchased a new stake in Cypress Semiconductor in the first quarter worth about $57,000. Finally, Meeder Asset Management Inc. grew its holdings in Cypress Semiconductor by 208.2% in the first quarter. Meeder Asset Management Inc. now owns 4,068 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 2,748 shares during the period. 77.13% of the stock is owned by hedge funds and other institutional investors.
Cypress Semiconductor Company Profile
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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