Cypress Semiconductor Receives Outperform Rating from Zacks (CY)
Cypress Semiconductor (NYSE:CY)‘s stock had its “outperform” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $12.00 target price on the stock. Zacks‘s price target points to a potential upside of 16.39% from the company’s current price.
Zacks’ analyst wrote, “Cypress develops and manufactures a broad range of digital and mixed signal ICs. The company’s first-quarter loss was lower than the Zacks Consensus estimate driven by solid expense management. Also, management provided a strong forward guidance, indicating robust demand. Though a weak and uncertain macro environment and increased pricing pressure remain concerns, we are encouraged about the company’s advanced technology, momentum in new products, recent design and customer wins and growth initiatives. We therefore have an Outperform recommendation on Cypress shares”
Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cypress Semiconductor in a research note on Monday, April 21st. They now have a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.22.
Cypress Semiconductor (NYSE:CY) traded down 1.66% on Friday, hitting $10.1388. 593,086 shares of the company’s stock traded hands. Cypress Semiconductor has a 52-week low of $8.61 and a 52-week high of $13.23. The stock’s 50-day moving average is $9.71 and its 200-day moving average is $9.9. The company’s market cap is $1.599 billion.
Cypress Semiconductor (NYSE:CY) last released its earnings data on Thursday, April 17th. The company reported $0.07 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.07. The company had revenue of $170.28 million for the quarter, compared to the consensus estimate of $169.00 million. During the same quarter last year, the company posted $0.03 earnings per share. Cypress Semiconductor’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Cypress Semiconductor will post $0.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 17th. Stockholders of record on Thursday, June 26th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, June 24th.
Cypress Semiconductor Corporation (NYSE:CY), delivers high-performance, mixed-signal and programmable solutions.
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