Cowen started coverage on shares of Cypress Semiconductor (NASDAQ:CY) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $21.00 price target on the semiconductor company’s stock.
Other equities research analysts also recently issued reports about the stock. Craig Hallum lifted their price target on shares of Cypress Semiconductor from $21.00 to $23.00 and gave the company a buy rating in a research report on Friday, February 2nd. SunTrust Banks reiterated a hold rating and issued a $19.00 price target on shares of Cypress Semiconductor in a research report on Friday, February 2nd. Needham & Company LLC reiterated a buy rating on shares of Cypress Semiconductor in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Cypress Semiconductor from a strong sell rating to a buy rating and set a $19.00 price target for the company in a research report on Wednesday, January 31st. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $22.00 price target on shares of Cypress Semiconductor in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $19.32.
Get Cypress Semiconductor alerts:Cypress Semiconductor opened at $16.42 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 0.87. Cypress Semiconductor has a 1-year low of $12.50 and a 1-year high of $18.87. The company has a market capitalization of $5.90 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 0.99 and a beta of 2.09.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Cypress Semiconductor had a negative net margin of 1.63% and a positive return on equity of 15.62%. The company had revenue of $582.24 million during the quarter, compared to the consensus estimate of $580.44 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Cypress Semiconductor will post 1.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Investors of record on Thursday, June 28th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.68%. Cypress Semiconductor’s dividend payout ratio (DPR) is 73.33%.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $16.45, for a total transaction of $49,350.00. Following the sale, the executive vice president now owns 120,734 shares of the company’s stock, valued at $1,986,074.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hassane El-Khoury sold 43,991 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total transaction of $774,241.60. The disclosure for this sale can be found here. Insiders sold 83,643 shares of company stock worth $1,479,190 over the last three months. 0.43% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CY. Schwab Charles Investment Management Inc. grew its stake in shares of Cypress Semiconductor by 7.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,036,969 shares of the semiconductor company’s stock worth $31,044,000 after buying an additional 148,553 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Cypress Semiconductor during the fourth quarter worth $322,000. Rice Hall James & Associates LLC lifted its holdings in shares of Cypress Semiconductor by 12.7% during the fourth quarter. Rice Hall James & Associates LLC now owns 1,782,736 shares of the semiconductor company’s stock worth $27,169,000 after purchasing an additional 200,199 shares during the period. MHI Funds LLC acquired a new position in shares of Cypress Semiconductor during the fourth quarter worth $2,929,000. Finally, Villere ST Denis J & Co. LLC acquired a new position in shares of Cypress Semiconductor during the fourth quarter worth $69,678,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
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; 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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