Cypress Semiconductor (NASDAQ:CY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, September 14th.
CY has been the topic of a number of other research reports. Cowen assumed coverage on shares of Cypress Semiconductor in a report on Tuesday, May 22nd. They issued an “outperform” rating and a $21.00 price target on the stock. Zacks Investment Research cut shares of Cypress Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Craig Hallum lifted their price target on shares of Cypress Semiconductor from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cypress Semiconductor in a report on Friday, July 27th. Finally, Barclays reaffirmed a “hold” rating and issued a $18.00 price target on shares of Cypress Semiconductor in a report on Sunday, July 29th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.86.
Shares of Cypress Semiconductor stock traded down $0.56 during mid-day trading on Friday, hitting $13.73. 8,519,237 shares of the stock were exchanged, compared to its average volume of 5,602,169. Cypress Semiconductor has a 12 month low of $13.61 and a 12 month high of $18.87. The company has a quick ratio of 0.94, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.24 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.85 and a beta of 2.10.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, July 26th. The semiconductor company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The firm had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $618.49 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Cypress Semiconductor will post 1.06 EPS for the current year.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $16.50, for a total transaction of $49,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 11,017 shares of company stock worth $177,676 in the last three months. Insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors grew its position in Cypress Semiconductor by 9.4% in the third quarter. Optimum Investment Advisors now owns 93,000 shares of the semiconductor company’s stock worth $1,348,000 after acquiring an additional 8,000 shares in the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new position in Cypress Semiconductor in the third quarter worth $1,411,000. Northern Trust Corp grew its position in Cypress Semiconductor by 6.2% in the second quarter. Northern Trust Corp now owns 2,840,723 shares of the semiconductor company’s stock worth $44,258,000 after acquiring an additional 165,345 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Cypress Semiconductor by 30.1% in the second quarter. Public Employees Retirement System of Ohio now owns 292,584 shares of the semiconductor company’s stock worth $4,558,000 after acquiring an additional 67,777 shares in the last quarter. Finally, Global X Management Co LLC grew its position in Cypress Semiconductor by 9.4% in the second quarter. Global X Management Co LLC now owns 296,802 shares of the semiconductor company’s stock worth $4,624,000 after acquiring an additional 25,561 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
Read More: What Is An Exchange-Traded Fund (ETF)?
Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.