Cypress Semiconductor Corporation (NASDAQ: CY) shares rose in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile in early trading, the Dow Jones Industrial Average DJIA, +0.31% rose 24 points, or 0.1%, to 19,883, while the S&P 500 index ESH7, +0.13% dipped less than 1 point to 2,268. The Nasdaq Composite COMP, +0.02% which reached its fourth-straight record close on Tuesday, rose 1 point to 5,553.
Analysts at Mizuho reiterated a Buy rating on shares of Cypress Semiconductor Corporation (NASDAQ: CY) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Buy on the shares. The one-year price target of $13.45 is above the opening price of $11.55, that has caused a number of other analysts to issue statements on the stock in recent days. Looking back over the last 52 weeks, Cypress Semiconductor Corporation stock has a high of $12.48. Share prices sometimes get a jump to the upside when analysts reiterate coverage.
Shares of Cypress Semiconductor Corporation (NASDAQ: CY) opened at $11.55 yesterday trading between $11.47 and $11.59, and last traded at $11.56, which is a spike of $0.03 from the previous closing price.
Cypress Semiconductor Corporation (NASDAQ: CY) now has a market cap of 3.73B.
Cypress Semiconductor Corporation (NASDAQ: CY) Average Daily Trading Volume
217,610 shares traded hands yesterday, 23 percent lower than the average, out of a total float 308,910,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Cypress Semiconductor Corporation (NASDAQ: CY) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Cypress Semiconductor Corporation (NASDAQ: CY) now has a 50-day MA of $11.28 and 200-day MA of $11.13. It has traded in a 52-week range between $6.30 – 12.4800 and today’s last price is 7.34%% lower than the 52 week high of $12.48.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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