Cypress Semiconductor Corporation (NASDAQ:CY) Receives $17.00 Average PT from Brokerages

Shares of Cypress Semiconductor Corporation (NASDAQ:CY) have been given a consensus recommendation of “Buy” by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.00.

CY has been the subject of several recent research reports. Craig Hallum boosted their target price on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Tuesday, May 2nd. SunTrust Banks, Inc. upgraded shares of Cypress Semiconductor Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.59 to $17.00 in a research report on Monday, April 10th. Mizuho restated a “buy” rating and set a $16.00 target price on shares of Cypress Semiconductor Corporation in a research report on Monday, April 24th. Finally, Loop Capital restated a “buy” rating and set a $17.00 target price on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th.

Shares of Cypress Semiconductor Corporation (CY) traded down 1.13% during mid-day trading on Friday, hitting $14.03. 3,918,286 shares of the company were exchanged. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11. The company has a 50 day moving average of $13.92 and a 200 day moving average of $13.47. The company’s market capitalization is $4.66 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $593.80 million during the quarter, compared to analyst estimates of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. Equities analysts anticipate that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Thursday, September 28th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.

In other Cypress Semiconductor Corporation news, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $14.01, for a total transaction of $89,453.85. Following the transaction, the director now owns 69,124 shares of the company’s stock, valued at $968,427.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael S. Wishart sold 30,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $14.07, for a total transaction of $422,100.00. Following the transaction, the director now directly owns 65,256 shares in the company, valued at approximately $918,151.92. The disclosure for this sale can be found here. Insiders have sold 86,385 shares of company stock worth $1,177,054 in the last ninety days. Insiders own 0.69% of the company’s stock.

A number of institutional investors have recently modified their holdings of CY. IFP Advisors Inc increased its position in shares of Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 794 shares in the last quarter. Nordea Investment Management AB increased its position in Cypress Semiconductor Corporation by 101.7% in the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 4,600 shares during the period. ClariVest Asset Management LLC increased its position in Cypress Semiconductor Corporation by 101.7% in the first quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 4,600 shares during the period. ING Groep NV bought a new position in Cypress Semiconductor Corporation during the second quarter valued at approximately $138,000. Finally, Foresters Investment Management Company Inc. bought a new position in Cypress Semiconductor Corporation during the first quarter valued at approximately $140,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.

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Cypress Semiconductor Corporation Company Profile

Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.

Analyst Recommendations for Cypress Semiconductor Corporation (NASDAQ:CY)

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