Analysts expect Cypress Semiconductor Corporation (NASDAQ:CY) to report $604.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cypress Semiconductor Corporation’s earnings, with the lowest sales estimate coming in at $600.00 million and the highest estimate coming in at $611.40 million. Cypress Semiconductor Corporation reported sales of $523.85 million during the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Cypress Semiconductor Corporation will report full-year sales of $604.69 million for the current fiscal year, with estimates ranging from $2.31 billion to $2.36 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.48 billion per share, with estimates ranging from $2.39 billion to $2.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cypress Semiconductor Corporation.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The business had revenue of $593.80 million during the quarter, compared to analyst estimates of $546.82 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year.
Several research firms have recently issued reports on CY. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. KeyCorp set a $17.00 price objective on shares of Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. TheStreet raised shares of Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Loop Capital reaffirmed a “buy” rating and set a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. Finally, Needham & Company LLC lifted their price objective on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Cypress Semiconductor Corporation currently has an average rating of “Buy” and a consensus target price of $16.75.
In other Cypress Semiconductor Corporation news, EVP Dana Nazarian sold 250,075 shares of Cypress Semiconductor Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $14.10, for a total value of $3,526,057.50. Following the transaction, the executive vice president now directly owns 302,657 shares in the company, valued at $4,267,463.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael S. Wishart sold 30,000 shares of Cypress Semiconductor Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $14.07, for a total transaction of $422,100.00. Following the completion of the transaction, the director now owns 65,256 shares in the company, valued at $918,151.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,075 shares of company stock worth $4,613,658. 0.69% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CY. IFP Advisors Inc increased its stake in Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 794 shares during the period. Ffcm LLC increased its stake in Cypress Semiconductor Corporation by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 4,740 shares during the period. Nordea Investment Management AB increased its stake in Cypress Semiconductor Corporation by 101.7% in the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 4,600 shares during the period. ClariVest Asset Management LLC increased its stake in Cypress Semiconductor Corporation by 101.7% in the first quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 4,600 shares during the period. Finally, ING Groep NV acquired a new position in Cypress Semiconductor Corporation in the second quarter valued at $138,000. Institutional investors own 97.36% of the company’s stock.
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Shares of Cypress Semiconductor Corporation (NASDAQ:CY) traded up 2.30% on Monday, hitting $13.78. The company’s stock had a trading volume of 3,093,308 shares. Cypress Semiconductor Corporation has a one year low of $9.63 and a one year high of $15.11. The firm’s market cap is $4.58 billion. The stock has a 50-day moving average price of $13.78 and a 200 day moving average price of $13.72.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 annualized dividend and a yield of 3.27%. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.
About Cypress Semiconductor Corporation
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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