Barclays Trims Cypress Semiconductor (CY) Target Price to $16.00

Cypress Semiconductor (NASDAQ:CY) had its price objective trimmed by Barclays from $18.00 to $16.00 in a report published on Tuesday morning. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on CY. BidaskClub lowered shares of Cypress Semiconductor from a strong-buy rating to a buy rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered shares of Cypress Semiconductor from a strong-buy rating to a hold rating in a research report on Wednesday, June 27th. Craig Hallum upped their target price on shares of Cypress Semiconductor from $23.00 to $25.00 and gave the stock a buy rating in a research report on Friday, July 27th. Needham & Company LLC restated a buy rating and set a $23.00 target price on shares of Cypress Semiconductor in a research report on Friday, July 27th. Finally, TheStreet upgraded shares of Cypress Semiconductor from a c+ rating to a b rating in a research report on Friday, July 27th. Four analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $18.23.

Shares of NASDAQ:CY traded up $0.38 during midday trading on Tuesday, reaching $12.47. 430,631 shares of the company were exchanged, compared to its average volume of 5,641,702. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.37. Cypress Semiconductor has a one year low of $11.75 and a one year high of $18.87. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 0.82 and a beta of 2.09.



Cypress Semiconductor (NASDAQ:CY) last issued its earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The firm had revenue of $624.00 million during the quarter, compared to analyst estimates of $618.49 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. Cypress Semiconductor’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that Cypress Semiconductor will post 1.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Thursday, September 27th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Wednesday, September 26th. Cypress Semiconductor’s payout ratio is 73.33%.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $15.39, for a total transaction of $46,170.00. Following the sale, the executive vice president now owns 114,157 shares of the company’s stock, valued at $1,756,876.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 9,000 shares of company stock worth $136,290. 0.43% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its stake in shares of Cypress Semiconductor by 9.4% in the second quarter. OppenheimerFunds Inc. now owns 41,352 shares of the semiconductor company’s stock valued at $644,000 after acquiring an additional 3,560 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Cypress Semiconductor by 3.9% in the second quarter. Louisiana State Employees Retirement System now owns 96,800 shares of the semiconductor company’s stock valued at $1,508,000 after acquiring an additional 3,600 shares during the period. MetLife Investment Advisors LLC raised its stake in shares of Cypress Semiconductor by 1.7% in the second quarter. MetLife Investment Advisors LLC now owns 225,312 shares of the semiconductor company’s stock valued at $3,510,000 after acquiring an additional 3,780 shares during the period. Orca Investment Management LLC raised its stake in shares of Cypress Semiconductor by 6.2% in the second quarter. Orca Investment Management LLC now owns 65,034 shares of the semiconductor company’s stock valued at $1,013,000 after acquiring an additional 3,820 shares during the period. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Cypress Semiconductor by 8.7% in the third quarter. Xact Kapitalforvaltning AB now owns 48,903 shares of the semiconductor company’s stock valued at $709,000 after acquiring an additional 3,900 shares during the period. 82.66% of the stock is currently owned by 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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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