Wall Street brokerages predict that Cypress Semiconductor Co. (NASDAQ:CY) will post sales of $593.73 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Cypress Semiconductor’s earnings, with the highest sales estimate coming in at $598.20 million and the lowest estimate coming in at $592.48 million. Cypress Semiconductor posted sales of $530.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 12%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Cypress Semiconductor will report full year sales of $593.73 million for the current financial year, with estimates ranging from $2.32 billion to $2.33 billion. For the next fiscal year, analysts expect that the business will report sales of $2.47 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Cypress Semiconductor.

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

A number of research analysts have issued reports on CY shares. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $21.00 target price on shares of Cypress Semiconductor in a research report on Tuesday, December 5th. Loop Capital reiterated a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor in a research report on Tuesday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a research report on Monday, October 9th. Finally, Barclays cut Cypress Semiconductor from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $18.00 to $17.00 in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.58.

In other Cypress Semiconductor news, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $16.60, for a total value of $49,800.00. Following the transaction, the senior vice president now directly owns 70,607 shares of the company’s stock, valued at $1,172,076.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sam Geha sold 8,269 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $16.70, for a total value of $138,092.30. Following the completion of the transaction, the senior vice president now directly owns 63,000 shares in the company, valued at $1,052,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,604 shares of company stock worth $1,619,497. 0.69% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its position in shares of Cypress Semiconductor by 1.6% during the second quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 324 shares during the period. Aperio Group LLC grew its holdings in Cypress Semiconductor by 11.4% during the second quarter. Aperio Group LLC now owns 65,056 shares of the semiconductor company’s stock worth $888,000 after buying an additional 6,682 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Cypress Semiconductor by 0.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 74,905 shares of the semiconductor company’s stock worth $1,022,000 after buying an additional 465 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Cypress Semiconductor by 1.8% during the second quarter. Great West Life Assurance Co. Can now owns 200,403 shares of the semiconductor company’s stock worth $2,733,000 after buying an additional 3,600 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Cypress Semiconductor by 33.7% during the second quarter. CIBC Asset Management Inc now owns 32,021 shares of the semiconductor company’s stock worth $437,000 after buying an additional 8,070 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Cypress Semiconductor (NASDAQ:CY) opened at $15.24 on Wednesday. The company has a market capitalization of $5,111.75, a PE ratio of 31.92, a P/E/G ratio of 2.76 and a beta of 2.01. Cypress Semiconductor has a 52 week low of $10.95 and a 52 week high of $17.42. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio is currently -110.00%.

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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.

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Earnings History and Estimates for Cypress Semiconductor (NASDAQ:CY)

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