Cypress Semiconductor Corporation Announces Quarterly Dividend of $0.11 (NASDAQ:CY)
Cypress Semiconductor Corporation (NASDAQ:CY) announced a quarterly dividend on Monday, August 7th, RTT News reports. Investors of record on Thursday, September 28th will be given a dividend of 0.11 per share by the semiconductor company on Thursday, October 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.16%.
Shares of Cypress Semiconductor Corporation (CY) opened at 13.93 on Monday. Cypress Semiconductor Corporation has a 1-year low of $9.63 and a 1-year high of $15.11. The company’s 50 day moving average is $13.92 and its 200-day moving average is $13.47. The stock’s market capitalization is $4.63 billion.
Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million for the quarter, compared to analyst estimates of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. Cypress Semiconductor Corporation’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Equities analysts anticipate that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current fiscal year.
CY has been the topic of several recent research reports. Zacks Investment Research raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, June 29th. TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Loop Capital reissued a “buy” rating and set a $17.00 price target on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. Bank of America Corporation reissued a “buy” rating and set a $18.00 price target on shares of Cypress Semiconductor Corporation in a research report on Thursday, May 25th. Finally, Needham & Company LLC boosted their price target on Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.67.
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In other Cypress Semiconductor Corporation news, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $13.31, for a total transaction of $665,500.00. Following the sale, the director now directly owns 89,997 shares in the company, valued at approximately $1,197,860.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $14.01, for a total value of $89,453.85. Following the sale, the director now owns 69,124 shares in the company, valued at $968,427.24. The disclosure for this sale can be found here. Insiders have sold a total of 86,385 shares of company stock worth $1,177,054 over the last 90 days. 0.69% of the stock is owned by company insiders.
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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