Shares of Cypress Semiconductor Corporation (NASDAQ:CY) have been given a consensus rating of “Buy” by the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.30.

Several equities analysts recently issued reports on CY shares. SunTrust Banks, Inc. upgraded shares of Cypress Semiconductor Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.59 to $17.00 in a research report on Monday, April 10th. Mizuho upped their price objective on shares of Cypress Semiconductor Corporation from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a “sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Cypress Semiconductor Corporation in a report on Monday, March 6th. Finally, Bank of America Corporation restated a “buy” rating and issued a $16.00 price objective on shares of Cypress Semiconductor Corporation in a report on Friday, March 3rd.

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Cypress Semiconductor Corporation (NASDAQ CY) opened at 13.37 on Friday. Cypress Semiconductor Corporation has a 12 month low of $9.11 and a 12 month high of $14.98. The company has a 50-day moving average of $13.64 and a 200 day moving average of $12.85. The company’s market cap is $4.40 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Cypress Semiconductor Corporation had a negative net margin of 30.84% and a positive return on equity of 5.31%. The company had revenue of $532 million for the quarter, compared to analysts’ expectations of $511.41 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. On average, equities analysts forecast that Cypress Semiconductor Corporation will post $0.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, June 29th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, June 27th. This represents a $0.44 annualized dividend and a dividend yield of 3.29%. Cypress Semiconductor Corporation’s dividend payout ratio is presently -22.22%.

In related news, Director Oc Kwon sold 6,385 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $14.01, for a total transaction of $89,453.85. Following the transaction, the director now owns 69,124 shares in the company, valued at $968,427.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Benhamou sold 50,000 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $14.18, for a total transaction of $709,000.00. Following the transaction, the director now owns 118,538 shares in the company, valued at approximately $1,680,868.84. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CY. BlackRock Inc. increased its position in shares of Cypress Semiconductor Corporation by 13,107.4% in the first quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock worth $380,014,000 after buying an additional 27,408,148 shares during the period. Lazard Asset Management LLC increased its position in shares of Cypress Semiconductor Corporation by 402.1% in the first quarter. Lazard Asset Management LLC now owns 6,810,329 shares of the semiconductor company’s stock worth $93,710,000 after buying an additional 5,453,982 shares during the period. Norges Bank bought a new position in shares of Cypress Semiconductor Corporation during the fourth quarter worth $28,889,000. Allianz Asset Management AG increased its position in shares of Cypress Semiconductor Corporation by 95.5% in the fourth quarter. Allianz Asset Management AG now owns 4,499,350 shares of the semiconductor company’s stock worth $51,473,000 after buying an additional 2,198,075 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Cypress Semiconductor Corporation during the fourth quarter worth $25,132,000. Institutional investors own 95.27% of the company’s stock.

About Cypress Semiconductor Corporation

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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