Zacks: Analysts Expect Cypress Semiconductor Corporation (CY) to Post $0.16 Earnings Per Share
Wall Street analysts expect that Cypress Semiconductor Corporation (NASDAQ:CY) will report earnings of $0.16 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Cypress Semiconductor Corporation’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.13. Cypress Semiconductor Corporation reported earnings per share of $0.07 in the same quarter last year, which suggests a positive year-over-year growth rate of 128.6%. The company is expected to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Cypress Semiconductor Corporation will report full-year earnings of $0.53 per share for the current year, with EPS estimates ranging from $0.42 to $0.71. For the next financial year, analysts expect that the company will post earnings of $0.98 per share, with EPS estimates ranging from $0.86 to $1.18. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Cypress Semiconductor Corporation.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The company had revenue of $593.80 million during the quarter, compared to the consensus estimate of $546.82 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis.
Several analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating on shares of Cypress Semiconductor Corporation in a research note on Tuesday, May 9th. Barclays PLC upped their target price on shares of Cypress Semiconductor Corporation from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. KeyCorp set a $17.00 target price on shares of Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Needham & Company LLC upped their target price on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, TheStreet upgraded shares of Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.67.
Shares of Cypress Semiconductor Corporation (NASDAQ CY) traded down 1.21% on Friday, hitting $13.93. 4,190,228 shares of the stock were exchanged. The stock’s market cap is $4.63 billion. The stock’s 50-day moving average is $13.92 and its 200-day moving average is $13.47. Cypress Semiconductor Corporation has a 1-year low of $9.63 and a 1-year high of $15.11.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, June 29th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, June 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.16%. Cypress Semiconductor Corporation’s dividend payout ratio is presently -110.00%.
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In other Cypress Semiconductor Corporation news, Director Eric Benhamou sold 50,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $13.31, for a total transaction of $665,500.00. Following the completion of the transaction, the director now owns 89,997 shares in the company, valued at $1,197,860.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael S. Wishart sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total transaction of $422,100.00. Following the transaction, the director now owns 65,256 shares of the company’s stock, valued at approximately $918,151.92. The disclosure for this sale can be found here. Insiders have sold 86,385 shares of company stock valued at $1,177,054 in the last quarter. Company insiders own 0.69% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of 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. Nordea Investment Management AB increased its stake in shares of 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 increased its stake in shares of 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. ING Groep NV purchased a new stake in shares of Cypress Semiconductor Corporation during the second quarter worth about $138,000. Finally, Foresters Investment Management Company Inc. purchased a new stake in shares of Cypress Semiconductor Corporation during the first quarter worth about $140,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.
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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