Wall Street analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to post $580.38 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cypress Semiconductor’s earnings. The highest sales estimate is $582.63 million and the lowest is $579.60 million. Cypress Semiconductor posted sales of $531.87 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The business is expected to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Cypress Semiconductor will report full year sales of $580.38 million for the current financial year, with estimates ranging from $2.41 billion to $2.56 billion. For the next year, analysts anticipate that the company will post sales of $2.59 billion per share, with estimates ranging from $2.47 billion to $2.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $597.54 million during the quarter, compared to analyst estimates of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. Cypress Semiconductor’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS.
Several research analysts recently commented on CY shares. Craig Hallum reiterated a “buy” rating and issued a $21.00 target price on shares of Cypress Semiconductor in a report on Tuesday, December 5th. Loop Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a report on Monday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a report on Friday, October 27th. Mizuho reiterated a “buy” rating and issued a $20.00 target price (up previously from $18.00) on shares of Cypress Semiconductor in a report on Friday, January 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 target price on shares of Cypress Semiconductor in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.04.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $17.08, for a total transaction of $51,240.00. Following the transaction, the senior vice president now owns 65,445 shares in the company, valued at approximately $1,117,800.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 9,000 shares of company stock worth $146,520. Insiders own 0.69% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Penbrook Management LLC acquired a new stake in shares of Cypress Semiconductor during the 4th quarter valued at about $184,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Cypress Semiconductor during the 4th quarter valued at about $457,000. Envestnet Asset Management Inc. boosted its position in shares of Cypress Semiconductor by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 61,185 shares of the semiconductor company’s stock valued at $933,000 after acquiring an additional 5,011 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Cypress Semiconductor during the 4th quarter valued at about $3,217,000. Finally, Park West Asset Management LLC acquired a new stake in shares of Cypress Semiconductor during the 4th quarter valued at about $12,954,000. Institutional investors and hedge funds own 91.22% of the company’s stock.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.05 on Monday, reaching $16.85. 7,816,700 shares of the company traded hands, compared to its average volume of 6,272,481. The company has a market cap of $5,620.00, a P/E ratio of -54.10, a PEG ratio of 1.08 and a beta of 2.17. Cypress Semiconductor has a 12-month low of $12.46 and a 12-month high of $17.90. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 0.53.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.44 annualized dividend and a dividend yield of 2.61%. Cypress Semiconductor’s payout ratio is -141.94%.
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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