Cypress Semiconductor Co. (CY) to Post Q1 2020 Earnings of $0.25 Per Share, SunTrust Banks Forecasts

Cypress Semiconductor Co. (NASDAQ:CY) – Research analysts at SunTrust Banks increased their Q1 2020 EPS estimates for Cypress Semiconductor in a note issued to investors on Wednesday, March 13th. SunTrust Banks analyst W. Stein now anticipates that the semiconductor company will earn $0.25 per share for the quarter, up from their prior forecast of $0.24. SunTrust Banks also issued estimates for Cypress Semiconductor’s Q3 2020 earnings at $0.32 EPS.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. The company had revenue of $604.47 million for the quarter, compared to the consensus estimate of $598.72 million.

Several other equities research analysts also recently weighed in on CY. BidaskClub raised Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, December 31st. ValuEngine downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price (down from $20.00) on shares of Cypress Semiconductor in a report on Friday, February 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Cypress Semiconductor in a report on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Cypress Semiconductor presently has an average rating of “Hold” and an average target price of $17.32.

NASDAQ CY opened at $15.09 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.64. Cypress Semiconductor has a twelve month low of $11.75 and a twelve month high of $18.72. The firm has a market cap of $5.52 billion, a P/E ratio of 13.01, a PEG ratio of 1.77 and a beta of 1.93.

A number of institutional investors have recently modified their holdings of CY. Geode Capital Management LLC raised its holdings in Cypress Semiconductor by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 3,953,810 shares of the semiconductor company’s stock valued at $50,292,000 after acquiring an additional 488,965 shares during the period. Norges Bank bought a new stake in Cypress Semiconductor during the 4th quarter valued at $48,029,000. Amalgamated Bank raised its holdings in Cypress Semiconductor by 36.9% during the 4th quarter. Amalgamated Bank now owns 79,707 shares of the semiconductor company’s stock valued at $1,014,000 after acquiring an additional 21,497 shares during the period. Oak Grove Capital LLC raised its holdings in Cypress Semiconductor by 19.5% during the 4th quarter. Oak Grove Capital LLC now owns 49,000 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 8,000 shares during the period. Finally, Millennium Management LLC raised its holdings in Cypress Semiconductor by 103.2% during the 4th quarter. Millennium Management LLC now owns 2,865,315 shares of the semiconductor company’s stock valued at $36,447,000 after acquiring an additional 1,455,190 shares during the period. 82.04% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Sudhir Gopalswamy sold 12,598 shares of Cypress Semiconductor stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $14.00, for a total value of $176,372.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 4,300 shares of the business’s stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $13.00, for a total value of $55,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,898 shares of company stock valued at $279,012. Corporate insiders own 0.43% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 28th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, March 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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