Cypress Semiconductor Corporation (CY) Expected to Post Earnings of $0.23 Per Share
Equities analysts expect Cypress Semiconductor Corporation (NASDAQ:CY) to post earnings per share (EPS) of $0.23 for the current quarter, Zacks reports. Five analysts have made estimates for Cypress Semiconductor Corporation’s earnings. The lowest EPS estimate is $0.21 and the highest is $0.25. Cypress Semiconductor Corporation posted earnings per share of $0.15 in the same quarter last year, which would indicate a positive year over year growth rate of 53.3%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Cypress Semiconductor Corporation will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.78 to $0.86. For the next fiscal year, analysts forecast that the company will report earnings of $1.15 per share, with EPS estimates ranging from $0.95 to $1.29. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Cypress Semiconductor Corporation.
Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $593.80 million for the quarter, compared to the consensus estimate 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 revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS.
A number of analysts have recently weighed in on the stock. Loop Capital reissued a “buy” rating and set a $17.00 price target on shares of Cypress Semiconductor Corporation in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Cypress Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. TheStreet raised shares of Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Craig Hallum raised their price target on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Needham & Company LLC raised their price target on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.67.
In other Cypress Semiconductor Corporation news, EVP Dana Nazarian sold 250,075 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $14.10, for a total value of $3,526,057.50. Following the sale, the executive vice president now directly owns 302,657 shares in the company, valued at $4,267,463.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Camillo Martino bought 10,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $258,400. The disclosure for this purchase can be found here. Insiders sold 336,460 shares of company stock worth $4,703,111 over the last quarter. 0.69% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock worth $105,000 after buying an additional 794 shares during the last quarter. Ffcm LLC boosted its stake in Cypress Semiconductor Corporation by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,740 shares during the last quarter. Nordea Investment Management AB boosted its stake 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 worth $126,000 after buying an additional 4,600 shares during the last quarter. ClariVest Asset Management LLC boosted its stake 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 worth $126,000 after buying an additional 4,600 shares during the last quarter. Finally, ING Groep NV bought a new stake in Cypress Semiconductor Corporation during the second quarter worth about $138,000. Institutional investors own 97.36% of the company’s stock.
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Cypress Semiconductor Corporation (NASDAQ CY) opened at 13.39 on Friday. The company’s market capitalization is $4.45 billion. The company’s 50-day moving average is $13.97 and its 200 day moving average is $13.65. Cypress Semiconductor Corporation has a one year low of $9.63 and a one year high of $15.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.
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.
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