Cypress Semiconductor Corporation (CY) Receives Buy Rating from SunTrust Banks, Inc.

Cypress Semiconductor Corporation (NASDAQ:CY)‘s stock had its “buy” rating reiterated by analysts at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $19.00 price objective on the semiconductor company’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 18.82% from the company’s current price.

Several other equities analysts have also recently issued reports on CY. BidaskClub upgraded shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Loop Capital reiterated a “buy” rating and set a $17.00 price target on shares of Cypress Semiconductor Corporation in a research report on Tuesday, August 22nd. Bank of America Corporation reiterated a “buy” rating on shares of Cypress Semiconductor Corporation in a research report on Sunday, October 1st. KeyCorp reiterated an “overweight” rating on shares of Cypress Semiconductor Corporation in a research report on Thursday, September 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor Corporation in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.09.

Shares of Cypress Semiconductor Corporation (CY) traded down 1.56% during mid-day trading on Thursday, reaching $15.74. The company’s stock had a trading volume of 4,298,041 shares. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $16.11. The firm’s market cap is $5.23 billion. The company’s 50-day moving average is $14.37 and its 200 day moving average is $13.92.

Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million during the quarter, compared to the consensus estimate of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that Cypress Semiconductor Corporation will post $0.80 EPS for the current year.

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In other news, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $14.10, for a total transaction of $3,526,057.50. Following the sale, the executive vice president now owns 302,657 shares in the company, valued at $4,267,463.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Camillo Martino purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $258,400. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 60,000 shares of company stock worth $834,100. Corporate insiders own 0.69% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ffcm LLC grew its holdings in shares of Cypress Semiconductor Corporation by 139.2% during the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,740 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Cypress Semiconductor Corporation by 13.3% during the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,014 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Cypress Semiconductor Corporation by 101.7% during the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 4,600 shares during the last quarter. ING Groep NV purchased a new stake in shares of Cypress Semiconductor Corporation during the second quarter valued at approximately $138,000. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of Cypress Semiconductor Corporation by 45.6% during the second quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 3,169 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Cypress Semiconductor Corporation Company Profile

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.

Analyst Recommendations for Cypress Semiconductor Corporation (NASDAQ:CY)

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