Cypress Semiconductor Co. (NASDAQ:CY) Expected to Announce Earnings of $0.29 Per Share

Wall Street analysts forecast that Cypress Semiconductor Co. (NASDAQ:CY) will report $0.29 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cypress Semiconductor’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.30. Cypress Semiconductor reported earnings per share of $0.40 in the same quarter last year, which indicates a negative year over year growth rate of 27.5%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 24th.

According to Zacks, analysts expect that Cypress Semiconductor will report full year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.09 to $1.12. For the next fiscal year, analysts expect that the company will report earnings of $1.24 per share, with EPS estimates ranging from $1.15 to $1.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Cypress Semiconductor had a return on equity of 19.36% and a net margin of 13.83%. The business had revenue of $532.20 million during the quarter, compared to analyst estimates of $530.96 million. During the same period in the previous year, the company earned $0.33 EPS. Cypress Semiconductor’s revenue was down 14.7% on a year-over-year basis.

A number of research firms recently weighed in on CY. BidaskClub lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, July 30th. ValuEngine lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Mizuho reaffirmed a “hold” rating and set a $23.85 price target on shares of Cypress Semiconductor in a report on Monday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.75.

In other news, CFO Trent Thad sold 40,000 shares of Cypress Semiconductor stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $23.43, for a total value of $937,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $22.93, for a total transaction of $68,790.00. Following the completion of the transaction, the executive vice president now directly owns 161,604 shares in the company, valued at approximately $3,705,579.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,000 shares of company stock worth $1,661,880. 0.55% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings 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 worth $1,002,000 after purchasing an additional 676 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cypress Semiconductor by 3.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,485 shares of the semiconductor company’s stock valued at $571,000 after acquiring an additional 705 shares during the period. Point72 Hong Kong Ltd grew its position in shares of Cypress Semiconductor by 73.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 974 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cypress Semiconductor by 4.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,780 shares of the semiconductor company’s stock valued at $529,000 after acquiring an additional 1,018 shares during the period. Finally, Sumitomo Life Insurance Co. grew its position in shares of Cypress Semiconductor by 1.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 72,634 shares of the semiconductor company’s stock valued at $1,615,000 after acquiring an additional 1,034 shares during the period. 81.01% of the stock is currently owned by institutional investors.

Cypress Semiconductor stock opened at $23.46 on Friday. Cypress Semiconductor has a 52-week low of $11.75 and a 52-week high of $23.48. The firm has a fifty day moving average of $23.31 and a 200-day moving average of $20.86. The firm has a market capitalization of $8.66 billion, a P/E ratio of 22.11 and a beta of 1.82. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.41.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.44 annualized dividend and a yield of 1.88%. 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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Earnings History and Estimates for Cypress Semiconductor (NASDAQ:CY)

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