Cypress Semiconductor Co. (NASDAQ:CY) Receives $21.01 Average Price Target from Brokerages

Shares of Cypress Semiconductor Co. (NASDAQ:CY) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.01.

A number of research firms have recently issued reports on CY. SunTrust Banks lifted their target price on shares of Cypress Semiconductor to $23.85 in a research note on Tuesday, June 4th. They noted that the move was a valuation call. Craig Hallum reiterated a “buy” rating and issued a $20.00 target price (up previously from $18.00) on shares of Cypress Semiconductor in a research note on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, May 1st. Finally, MKM Partners boosted their price objective on shares of Cypress Semiconductor to $18.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $15.19, for a total transaction of $45,570.00. Following the transaction, the executive vice president now owns 165,979 shares in the company, valued at approximately $2,521,221.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sam Geha sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $17.29, for a total transaction of $86,450.00. Following the transaction, the executive vice president now owns 120,655 shares in the company, valued at approximately $2,086,124.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,710 shares of company stock worth $926,942. 0.55% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CY. Resources Investment Advisors Inc. raised its stake in Cypress Semiconductor by 52.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after buying an additional 686 shares during the last quarter. Loeb Partners Corp bought a new position in Cypress Semiconductor during the fourth quarter worth $25,000. PRW Wealth Management LLC bought a new position in Cypress Semiconductor during the fourth quarter worth $25,000. Sterling Investment Advisors Ltd. bought a new position in Cypress Semiconductor during the first quarter worth $30,000. Finally, Quadrant Capital Group LLC raised its stake in Cypress Semiconductor by 101.0% during 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 during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

NASDAQ CY opened at $22.10 on Tuesday. Cypress Semiconductor has a fifty-two week low of $11.75 and a fifty-two week high of $22.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.82. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.49 and a beta of 1.77.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $535.13 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue was down 7.4% compared to the same quarter last year. Analysts anticipate that Cypress Semiconductor will post 0.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 27th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.99%. Cypress Semiconductor’s payout ratio is 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; 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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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