Investment analysts at Piper Jaffray Companies started coverage on shares of Cypress Semiconductor (NASDAQ:CY) in a research note issued to investors on Monday, The Fly reports. The firm set an “overweight” rating on the semiconductor company’s stock.
CY has been the subject of several other reports. Loop Capital reiterated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a research note on Monday, November 20th. Susquehanna Bancshares began coverage on Cypress Semiconductor in a research note on Wednesday, December 13th. They set a “positive” rating and a $20.00 target price for the company. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Craig Hallum reiterated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a research note on Thursday, August 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.88.
Cypress Semiconductor (CY) traded up $0.37 during trading hours on Monday, hitting $15.61. The company’s stock had a trading volume of 9,493,053 shares, compared to its average volume of 6,412,048. The firm has a market cap of $5,085.05, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 2.75 and a beta of 2.01. Cypress Semiconductor has a 52-week low of $10.99 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.
In related news, SVP Sam Geha sold 8,269 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $16.70, for a total value of $138,092.30. Following the completion of the sale, the senior vice president now directly owns 63,000 shares in the company, valued at approximately $1,052,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Trent Thad sold 74,818 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $15.77, for a total value of $1,179,879.86. Following the completion of the sale, the executive vice president now owns 172,105 shares of the company’s stock, valued at $2,714,095.85. The disclosure for this sale can be found here. Insiders sold a total of 103,604 shares of company stock valued at $1,666,027 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Cypress Semiconductor by 15.8% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after acquiring an additional 210,992 shares in the last quarter. HAP Trading LLC acquired a new position in Cypress Semiconductor in the 3rd quarter valued at $5,386,000. Westfield Capital Management Co. LP acquired a new position in Cypress Semiconductor in the 3rd quarter valued at $53,009,000. Teacher Retirement System of Texas raised its holdings in Cypress Semiconductor by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 989 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in Cypress Semiconductor in the 2nd quarter valued at $995,000. Institutional investors and hedge funds own 97.38% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was published by American Market News and is the property of of American Market News. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/18/cypress-semiconductor-cy-receives-new-coverage-from-analysts-at-piper-jaffray-companies.html.
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.
