Cypress Semiconductor (NASDAQ:CY) was downgraded by analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat reports. They currently have a $17.00 price objective on the semiconductor company’s stock. SunTrust Banks’ price objective would indicate a potential upside of 11.92% from the stock’s previous close.

CY has been the subject of several other reports. Loop Capital restated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a research report on Monday, November 20th. BidaskClub upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research report on Monday, September 18th. Finally, Credit Suisse Group upped their price target on shares of Cypress Semiconductor from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Cypress Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $17.50.

Shares of Cypress Semiconductor (NASDAQ:CY) traded down $0.82 during midday trading on Friday, reaching $15.19. 16,774,827 shares of the company traded hands, compared to its average volume of 6,411,388. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. The company has a market capitalization of $5,070.00, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 3.04 and a beta of 2.02. Cypress Semiconductor has a 12 month low of $10.51 and a 12 month high of $17.42.

Cypress Semiconductor (NASDAQ:CY) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. analysts predict that Cypress Semiconductor will post 0.56 EPS for the current fiscal year.

In other news, SVP Sam Geha sold 14,517 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total value of $251,724.78. Following the transaction, the senior vice president now owns 41,204 shares of the company’s stock, valued at $714,477.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Trent Thad sold 74,818 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $15.77, for a total transaction of $1,179,879.86. Following the completion of the transaction, the executive vice president now directly owns 172,105 shares in the company, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,604 shares of company stock valued at $1,619,497. Company insiders own 0.69% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA lifted its holdings in shares of Cypress Semiconductor by 1,061.4% in the third quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock worth $100,000 after buying an additional 6,082 shares in the last quarter. Ffcm LLC lifted its holdings in shares of Cypress Semiconductor by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,740 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Cypress Semiconductor by 13.3% in the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,014 shares in the last quarter. ING Groep NV purchased a new position in shares of Cypress Semiconductor in the second quarter worth $138,000. Finally, Thompson Davis & CO. Inc. lifted its holdings in shares of Cypress Semiconductor by 45.6% in the second quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock worth $138,000 after buying an additional 3,169 shares in the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.

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About Cypress Semiconductor

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.

Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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