Analysts Anticipate Cypress Semiconductor Corporation (NASDAQ:CY) Will Post Earnings of $0.09 Per Share
Equities research analysts predict that Cypress Semiconductor Corporation (NASDAQ:CY) will report $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Cypress Semiconductor Corporation’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.10. Cypress Semiconductor Corporation reported earnings of $0.08 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Cypress Semiconductor Corporation will report full-year earnings of $0.44 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.49. For the next financial year, analysts expect that the firm will report earnings of $0.80 per share, with EPS estimates ranging from $0.63 to $0.89. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Cypress Semiconductor Corporation.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share for the quarter, topping 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 firm had revenue of $532 million during the quarter, compared to analysts’ expectations of $511.41 million. During the same quarter in the prior year, the company earned $0.07 EPS.
CY has been the subject of several recent research reports. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, June 29th. Bank of America Corporation reiterated a “buy” rating and issued a $18.00 price target on shares of Cypress Semiconductor Corporation in a research note on Thursday, May 25th. Stephens reiterated an “overweight” rating on shares of Cypress Semiconductor Corporation in a research note on Tuesday, May 9th. Finally, SunTrust Banks, Inc. upgraded shares of Cypress Semiconductor Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.59 to $17.00 in a research note on Monday, April 10th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Cypress Semiconductor Corporation has an average rating of “Buy” and a consensus price target of $15.77.
In other Cypress Semiconductor Corporation news, Director Eric Benhamou sold 50,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $13.31, for a total value of $665,500.00. Following the transaction, the director now directly owns 89,997 shares of the company’s stock, valued at approximately $1,197,860.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Oc Kwon sold 6,385 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 69,124 shares in the company, valued at $968,427.24. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CY. BlackRock Inc. boosted 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 valued at $380,014,000 after buying an additional 27,408,148 shares in the last quarter. Lazard Asset Management LLC boosted 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 valued at $93,710,000 after buying an additional 5,453,982 shares in the last quarter. Norges Bank purchased a new position in shares of Cypress Semiconductor Corporation during the fourth quarter valued at about $28,889,000. FMR LLC boosted its position in shares of Cypress Semiconductor Corporation by 230.4% in the first quarter. FMR LLC now owns 3,014,980 shares of the semiconductor company’s stock valued at $41,487,000 after buying an additional 2,102,360 shares in the last quarter. Finally, Park West Asset Management LLC purchased a new position in shares of Cypress Semiconductor Corporation during the first quarter valued at about $28,395,000. 95.08% of the stock is currently owned by institutional investors.
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Shares of Cypress Semiconductor Corporation (CY) traded down 1.87% during midday trading on Monday, hitting $14.20. 2,635,551 shares of the stock traded hands. The company’s market cap is $4.68 billion. Cypress Semiconductor Corporation has a 52-week low of $9.63 and a 52-week high of $14.98. The stock has a 50-day moving average of $13.59 and a 200-day moving average of $13.02.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, June 29th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, June 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.04%. Cypress Semiconductor Corporation’s payout ratio is -22.22%.
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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