Brokerages Set Cypress Semiconductor Co. (NASDAQ:CY) PT at $21.01

Cypress Semiconductor Co. (NASDAQ:CY) has been given an average recommendation of “Hold” by the sixteen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.01.

Several research firms recently commented on CY. MKM Partners restated a “neutral” rating and set a $23.85 price target (up from $20.00) on shares of Cypress Semiconductor in a report on Tuesday, June 4th. Mizuho cut shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $23.85 in a report on Monday, June 3rd. Barclays restated a “hold” rating and set a $23.00 price target on shares of Cypress Semiconductor in a report on Thursday, June 6th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Finally, Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th.

Shares of Cypress Semiconductor stock traded up $0.05 during trading on Friday, hitting $22.49. The stock had a trading volume of 7,004,908 shares, compared to its average volume of 8,198,744. The stock’s 50 day simple moving average is $21.10. The stock has a market cap of $8.22 billion, a P/E ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.88. The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 0.40. Cypress Semiconductor has a 1 year low of $11.75 and a 1 year high of $22.50.



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

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, June 27th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.

In related news, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.32, for a total transaction of $446,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the transaction, the executive vice president now directly owns 165,031 shares in the company, valued at approximately $2,619,041.97. The disclosure for this sale can be found here. Insiders have sold 62,710 shares of company stock worth $1,314,812 in the last ninety days. 0.55% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Alpine Global Management LLC bought a new stake in Cypress Semiconductor in the 2nd quarter valued at $1,334,000. Jackson Wealth Management LLC bought a new stake in Cypress Semiconductor in the 2nd quarter valued at $446,000. NN Investment Partners Holdings N.V. bought a new stake in Cypress Semiconductor in the 2nd quarter valued at $191,000. Nachman Norwood & Parrott Inc increased its holdings in Cypress Semiconductor by 10.3% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 12,505 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 1,170 shares during the period. Finally, Equitec Specialists LLC bought a new stake in Cypress Semiconductor in the 2nd quarter valued at $191,000. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

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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