Cypress Semiconductor Corporation (NASDAQ:CY) – Stock analysts at SunTrust Banks lowered their Q1 2018 earnings per share estimates for shares of Cypress Semiconductor in a research note issued to investors on Friday. SunTrust Banks analyst W. Stein now forecasts that the semiconductor company will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.16. SunTrust Banks has a “Hold” rating and a $17.00 price target on the stock. SunTrust Banks also issued estimates for Cypress Semiconductor’s Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.85 EPS.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The firm had revenue of $604.57 million for the quarter, compared to the consensus estimate of $602.16 million. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis.
Cypress Semiconductor (CY) opened at $15.19 on Monday. The stock has a market capitalization of $5,068.37, a P/E ratio of 31.65, a P/E/G ratio of 2.74 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. Cypress Semiconductor has a 12-month low of $10.51 and a 12-month high of $17.42.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.90%. Cypress Semiconductor’s dividend payout ratio is currently -110.00%.
In related news, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $16.60, for a total transaction of $49,800.00. Following the completion of the sale, the senior vice president now owns 70,607 shares of the company’s stock, valued at approximately $1,172,076.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sam Geha sold 14,517 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the sale, the senior vice president now directly owns 41,204 shares of the company’s stock, valued at approximately $714,477.36. The disclosure for this sale can be found here. Insiders have sold 100,604 shares of company stock valued at $1,619,497 in the last three months. Corporate insiders own 0.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its holdings in Cypress Semiconductor by 0.8% in the 2nd quarter. Capstone Asset Management Co. now owns 23,441 shares of the semiconductor company’s stock valued at $320,000 after purchasing an additional 180 shares during the last quarter. Bank of Montreal Can boosted its holdings in Cypress Semiconductor by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 324 shares during the last quarter. Aperio Group LLC boosted its holdings in Cypress Semiconductor by 11.4% in the 2nd quarter. Aperio Group LLC now owns 65,056 shares of the semiconductor company’s stock valued at $888,000 after purchasing an additional 6,682 shares during the last quarter. ING Groep NV acquired a new position in Cypress Semiconductor in the 2nd quarter valued at about $138,000. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Cypress Semiconductor by 0.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 74,905 shares of the semiconductor company’s stock valued at $1,022,000 after purchasing an additional 465 shares during the last quarter. 97.39% of the stock is owned by institutional investors.
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Cypress Semiconductor 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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