Cypress Semiconductor (CY) Shares Gap Down to $16.01
Cypress Semiconductor Corporation (NASDAQ:CY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $16.34, but opened at $16.01. Cypress Semiconductor shares last traded at $15.19, with a volume of 16774828 shares trading hands.
A number of equities analysts have recently issued reports on CY shares. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a report on Friday, October 27th. BidaskClub downgraded shares of Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 21st. SunTrust Banks reiterated a “buy” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a report on Thursday, October 12th. Bank of America reiterated a “buy” rating on shares of Cypress Semiconductor in a report on Sunday, October 1st. Finally, Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.50.
The stock has a market capitalization of $5,070.00, a price-to-earnings ratio of 35.15, a P/E/G ratio of 3.04 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. equities analysts predict that Cypress Semiconductor Corporation will post 0.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.90%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -110.00%.
In related news, SVP Sam Geha sold 14,517 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total value of $251,724.78. Following the sale, the senior vice president now directly owns 41,204 shares of the company’s stock, valued at $714,477.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine P. Lego bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average cost of $13.69 per share, for a total transaction of $273,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 100,604 shares of company stock valued at $1,619,497. Insiders own 0.69% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New boosted its position in shares of Cypress Semiconductor by 0.6% in the second quarter. Cigna Investments Inc. New now owns 12,584 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 72 shares during the last quarter. ProShare Advisors LLC lifted its position in Cypress Semiconductor by 0.3% during the second quarter. ProShare Advisors LLC now owns 47,595 shares of the semiconductor company’s stock valued at $650,000 after buying an additional 162 shares in the last quarter. Capstone Asset Management Co. lifted its position in Cypress Semiconductor by 0.8% during the second quarter. Capstone Asset Management Co. now owns 23,441 shares of the semiconductor company’s stock valued at $320,000 after buying an additional 180 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Cypress Semiconductor by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,079 shares of the semiconductor company’s stock valued at $656,000 after buying an additional 182 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Cypress Semiconductor by 1.6% during the second quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 324 shares in the last quarter. 97.39% of the stock is currently owned by institutional investors and hedge funds.
About Cypress Semiconductor
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.
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