Analysts Set Cypress Semiconductor Co. (NASDAQ:CY) PT at $22.21

Cypress Semiconductor Co. (NASDAQ:CY) has been assigned a consensus rating of “Hold” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.21.

Several research firms have recently weighed in on CY. ValuEngine lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a report on Wednesday. Mizuho reiterated a “hold” rating and issued a $23.85 target price on shares of Cypress Semiconductor in a report on Friday, October 25th. Finally, Cowen cut shares of Cypress Semiconductor from an “outperform” rating to a “market perform” rating and set a $23.85 target price for the company. in a report on Thursday, November 14th.

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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hassane El-Khoury sold 25,000 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 transaction of $585,750.00. Following the completion of the transaction, the chief executive officer now directly owns 489,851 shares in the company, valued at approximately $11,477,208.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,003 shares of company stock worth $4,997,920. Insiders own 0.55% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CY. Pentwater Capital Management LP bought a new position in shares of Cypress Semiconductor in the second quarter valued at approximately $227,293,000. Magnetar Financial LLC purchased a new position in shares of Cypress Semiconductor in the 2nd quarter worth about $189,280,000. Alpine Associates Management Inc. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter worth about $112,558,000. Omni Partners LLP purchased a new position in shares of Cypress Semiconductor in the 2nd quarter worth about $83,909,000. Finally, Carlson Capital L P purchased a new position in shares of Cypress Semiconductor in the 2nd quarter worth about $61,997,000. 78.97% of the stock is currently owned by institutional investors.

Cypress Semiconductor stock traded down $0.05 during trading hours on Tuesday, hitting $23.40. 4,438,575 shares of the company traded hands, compared to its average volume of 3,074,557. The firm has a market cap of $8.69 billion, a P/E ratio of 20.17 and a beta of 1.79. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $23.39 and its two-hundred day simple moving average is $22.44. Cypress Semiconductor has a 1-year low of $11.86 and a 1-year high of $23.55.

Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, October 24th. The semiconductor company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Cypress Semiconductor had a net margin of 12.74% and a return on equity of 17.34%. The firm had revenue of $574.52 million for the quarter, compared to analysts’ expectations of $570.66 million. During the same quarter last year, the company earned $0.40 EPS. Cypress Semiconductor’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Cypress Semiconductor will post 0.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, December 26th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, December 24th. Cypress Semiconductor’s payout ratio is presently 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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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