Wall Street brokerages expect that Cypress Semiconductor Co. (NASDAQ:CY) will report $0.24 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cypress Semiconductor’s earnings. Cypress Semiconductor posted earnings of $0.27 per share in the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The business is scheduled to announce its next earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Cypress Semiconductor will report full year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.05 to $1.13. For the next financial year, analysts expect that the firm will post earnings of $1.22 per share, with EPS estimates ranging from $1.17 to $1.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Cypress Semiconductor.
Get Cypress Semiconductor alerts:Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. The company had revenue of $604.47 million during the quarter, compared to analyst estimates of $598.72 million.
A number of research analysts recently weighed in on the company. Piper Jaffray Companies set a $15.00 price objective on Cypress Semiconductor and gave the company a “buy” rating in a research report on Friday, October 26th. BidaskClub lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. ValuEngine lowered Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Craig Hallum cut their price objective on Cypress Semiconductor from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Zacks Investment Research lowered Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Cypress Semiconductor currently has an average rating of “Hold” and an average target price of $17.45.
In related news, EVP Sudhir Gopalswamy sold 12,598 shares of Cypress Semiconductor stock in a transaction on Friday, January 25th. The stock was sold at an average price of $14.00, for a total transaction of $176,372.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 4,300 shares of Cypress Semiconductor stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $13.00, for a total value of $55,900.00. The disclosure for this sale can be found here. Insiders have sold 66,898 shares of company stock worth $926,272 over the last quarter. 0.43% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CY. Vanguard Group Inc. lifted its position in shares of Cypress Semiconductor by 8.2% in the third quarter. Vanguard Group Inc. now owns 37,219,787 shares of the semiconductor company’s stock valued at $539,316,000 after acquiring an additional 2,820,094 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Cypress Semiconductor in the third quarter valued at about $5,458,000. The Manufacturers Life Insurance Company lifted its position in shares of Cypress Semiconductor by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 598,602 shares of the semiconductor company’s stock valued at $8,674,000 after acquiring an additional 19,087 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Cypress Semiconductor in the third quarter valued at about $2,752,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Cypress Semiconductor by 22.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 81,866 shares of the semiconductor company’s stock valued at $1,186,000 after acquiring an additional 15,252 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.
CY stock traded down $0.03 on Friday, reaching $15.70. 2,871,095 shares of the company traded hands, compared to its average volume of 5,126,994. Cypress Semiconductor has a one year low of $11.75 and a one year high of $18.87. The company has a quick ratio of 0.89, a current ratio of 1.30 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.68 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.83 and a beta of 1.85.
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.
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