Cypress Semiconductor (NASDAQ:CY) Downgraded by BidaskClub

BidaskClub cut shares of Cypress Semiconductor (NASDAQ:CY) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Other equities analysts have also issued reports about the company. Mizuho reiterated a hold rating and issued a $23.85 price objective on shares of Cypress Semiconductor in a research note on Friday, October 25th. Zacks Investment Research upgraded Cypress Semiconductor from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 30th. ValuEngine lowered Cypress Semiconductor from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Cowen lowered Cypress Semiconductor from an outperform rating to a market perform rating and set a $23.85 price objective on the stock. in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $21.81.

Shares of NASDAQ:CY traded up $0.02 on Wednesday, reaching $23.37. The company had a trading volume of 3,938,000 shares, compared to its average volume of 5,698,497. Cypress Semiconductor has a twelve month low of $11.86 and a twelve month high of $23.50. The stock has a 50-day moving average price of $23.38 and a 200 day moving average price of $21.88. The stock has a market capitalization of $8.69 billion, a P/E ratio of 20.15 and a beta of 1.82. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.36.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, October 24th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $574.52 million for the quarter, compared to analyst estimates of $570.66 million. Cypress Semiconductor had a return on equity of 17.34% and a net margin of 12.74%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, sell-side analysts predict that Cypress Semiconductor will post 0.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, December 26th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 24th. This represents a $0.44 annualized dividend and a yield of 1.88%. Cypress Semiconductor’s dividend payout ratio is 37.93%.

In other Cypress Semiconductor news, CEO Hassane El-Khoury sold 25,000 shares of Cypress Semiconductor stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $23.43, for a total transaction of $585,750.00. Following the sale, the chief executive officer now directly owns 489,851 shares of the company’s stock, valued at $11,477,208.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $23.38, for a total value of $70,140.00. Following the sale, the executive vice president now directly owns 158,604 shares in the company, valued at $3,708,161.52. The disclosure for this sale can be found here. Insiders have sold 189,003 shares of company stock worth $4,411,670 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its position in shares of Cypress Semiconductor by 0.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 67,750 shares of the semiconductor company’s stock valued at $1,581,000 after buying an additional 470 shares in the last quarter. Advisor Group Inc. increased its position in shares of Cypress Semiconductor by 1.5% in the 2nd quarter. Advisor Group Inc. now owns 45,066 shares of the semiconductor company’s stock valued at $1,002,000 after buying an additional 676 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cypress Semiconductor by 3.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,485 shares of the semiconductor company’s stock valued at $571,000 after buying an additional 705 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Cypress Semiconductor by 0.9% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 105,304 shares of the semiconductor company’s stock valued at $2,458,000 after buying an additional 940 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its position in shares of Cypress Semiconductor by 73.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 974 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

About Cypress Semiconductor

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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