$531.85 Million in Sales Expected for Cypress Semiconductor Co. (NASDAQ:CY) This Quarter

Wall Street brokerages predict that Cypress Semiconductor Co. (NASDAQ:CY) will post sales of $531.85 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cypress Semiconductor’s earnings, with the lowest sales estimate coming in at $529.89 million and the highest estimate coming in at $534.65 million. Cypress Semiconductor reported sales of $624.09 million in the same quarter last year, which indicates a negative year over year growth rate of 14.8%. The firm is scheduled to announce its next earnings results on Thursday, July 25th.

On average, analysts expect that Cypress Semiconductor will report full year sales of $2.20 billion for the current year, with estimates ranging from $2.19 billion to $2.22 billion. For the next financial year, analysts anticipate that the business will post sales of $2.33 billion, with estimates ranging from $2.28 billion to $2.38 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The business had revenue of $539.00 million during the quarter, compared to analyst estimates of $535.13 million. During the same period last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis.

A number of research firms recently issued reports on CY. Mizuho reiterated a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a report on Friday, April 26th. Piper Jaffray Companies lowered Cypress Semiconductor from an “overweight” rating to a “neutral” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, May 1st. Craig Hallum lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Finally, Barclays reiterated a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Cypress Semiconductor currently has an average rating of “Hold” and a consensus target price of $20.34.

In other news, EVP Sam Geha sold 5,000 shares of Cypress Semiconductor stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $17.29, for a total transaction of $86,450.00. Following the sale, the executive vice president now owns 120,655 shares in the company, valued at $2,086,124.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $16.37, for a total value of $49,110.00. Following the sale, the executive vice president now owns 162,979 shares in the company, valued at approximately $2,667,966.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,710 shares of company stock worth $1,394,312. 0.55% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC grew its holdings in shares of Cypress Semiconductor by 8.6% during the first quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock worth $128,000 after buying an additional 680 shares during the last quarter. Resources Investment Advisors Inc. grew its holdings in shares of Cypress Semiconductor by 52.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after buying an additional 686 shares during the last quarter. State Treasurer State of Michigan grew its holdings in shares of Cypress Semiconductor by 0.5% during the first quarter. State Treasurer State of Michigan now owns 129,700 shares of the semiconductor company’s stock worth $1,935,000 after buying an additional 700 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Cypress Semiconductor by 1.0% during the first quarter. Optimum Investment Advisors now owns 77,900 shares of the semiconductor company’s stock worth $1,162,000 after buying an additional 800 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Cypress Semiconductor by 101.0% during the first quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 81.11% of the company’s stock.

Shares of CY traded up $0.07 during midday trading on Friday, hitting $22.34. 8,012,881 shares of the stock were exchanged, compared to its average volume of 11,042,225. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.50 and a beta of 1.88. The stock’s fifty day moving average is $19.88. Cypress Semiconductor has a 52-week low of $11.75 and a 52-week high of $22.48. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.

About Cypress Semiconductor

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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

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