Cypress Semiconductor Corp. Given Neutral Rating at Zacks (CY)
Cypress Semiconductor Corp. (NYSE:CY)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday, Analyst Ratings Network.com reports. They currently have a $11.00 price target on the stock. Zacks‘ target price suggests a potential upside of 1.85% from the stock’s previous close.
Zacks‘ analyst wrote, “Cypress develops and manufactures a broad range of digital and mixed signal ICs. Though the company’s third-quarter loss was wider than the Zacks Consensus estimate, the top line figures surpassed our expectations. However, management provided a cautious forward revenue guidance. While we are encouraged about the company’s advanced technology, momentum in new products, increased customer wins and growth initiatives, a weak and uncertain macro environment and increased pricing pressure remain concerns. We are therefore reiterating our Neutral rating on Cypress shares.”
Shares of Cypress Semiconductor Corp. (NYSE:CY) traded down 4.12% on Friday, hitting $10.355. The stock had a trading volume of 3,170,009 shares. Cypress Semiconductor Corp. has a 1-year low of $8.61 and a 1-year high of $13.23. The stock’s 50-day moving average is $10.10 and its 200-day moving average is $10.52. The company’s market cap is $1.565 billion.
Cypress Semiconductor Corp. (NYSE:CY) last released its earnings data on Thursday, January 23rd. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.01. The company had revenue of $167.78 million for the quarter, compared to the consensus estimate of $166.47 million. During the same quarter last year, the company posted $0.05 earnings per share. Cypress Semiconductor Corp.’s revenue was down 11.1% compared to the same quarter last year. Analysts expect that Cypress Semiconductor Corp. will post $0.38 EPS for the current fiscal year.
Separately, analysts at Ned Davis Research upgraded shares of Cypress Semiconductor Corp. from a “sell” rating to a “neutral” rating in a research note to investors on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.96.
Cypress Semiconductor Corporation (NYSE:CY), delivers high-performance, mixed-signal and programmable solutions.
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