Analysts expect Cypress Semiconductor Corporation (NASDAQ:CY) to announce $603.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cypress Semiconductor Corporation’s earnings, with the highest sales estimate coming in at $611.40 million and the lowest estimate coming in at $600.00 million. Cypress Semiconductor Corporation reported sales of $523.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.2%. The company is scheduled to report its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Cypress Semiconductor Corporation will report full year sales of $603.36 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.36 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.46 billion per share, with estimates ranging from $2.39 billion to $2.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cypress Semiconductor Corporation.

Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The business had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS.

A number of brokerages have recently issued reports on CY. TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Loop Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. Needham & Company LLC lifted their target price 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. Craig Hallum lifted their target price on Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, KeyCorp set a $17.00 target price on Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.67.

In other Cypress Semiconductor Corporation news, Director Michael S. Wishart sold 30,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total value of $422,100.00. Following the completion of the transaction, the director now directly owns 65,256 shares in the company, valued at $918,151.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred 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 completion of the transaction, the director now owns 89,997 shares of the company’s stock, valued at $1,197,860.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,385 shares of company stock valued at $1,177,054. 0.69% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Wesbanco Bank Inc. increased its position in shares of Cypress Semiconductor Corporation by 278.0% in the first quarter. Wesbanco Bank Inc. now owns 168,554 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 123,967 shares in the last quarter. IFP Advisors Inc increased its position 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 valued at $105,000 after buying an additional 794 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cypress Semiconductor Corporation by 274.1% in the first quarter. Janney Montgomery Scott LLC now owns 94,321 shares of the semiconductor company’s stock valued at $1,298,000 after buying an additional 69,107 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Cypress Semiconductor Corporation during the first quarter valued at about $4,400,000. Finally, Profund Advisors LLC increased its position in shares of Cypress Semiconductor Corporation by 7.9% in the first quarter. Profund Advisors LLC now owns 106,546 shares of the semiconductor company’s stock valued at $1,466,000 after buying an additional 7,766 shares in the last quarter. Institutional investors own 95.87% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Expect Cypress Semiconductor Corporation (NASDAQ:CY) Will Announce Quarterly Sales of $603.36 Million” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/08/08/zacks-analysts-expect-cypress-semiconductor-corporation-nasdaqcy-will-announce-quarterly-sales-of-603-36-million.html.

Cypress Semiconductor Corporation (CY) opened at 14.19 on Tuesday. The stock’s 50 day moving average price is $13.92 and its 200 day moving average price is $13.47. The firm’s market capitalization is $4.72 billion. Cypress Semiconductor Corporation has a 52-week low of $9.63 and a 52-week high of $15.11.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.10%. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is -110.00%.

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.

Get a free copy of the Zacks research report on Cypress Semiconductor Corporation (CY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cypress Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.