BidaskClub Upgrades Cypress Semiconductor (NASDAQ:CY) to “Hold”

Cypress Semiconductor (NASDAQ:CY) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Susquehanna Bancshares lowered Cypress Semiconductor from a “positive” rating to a “neutral” rating in a research report on Monday, June 3rd. Roth Capital lowered Cypress Semiconductor from a “buy” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $24.00 in a research report on Monday, June 3rd. Needham & Company LLC lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. MKM Partners restated a “neutral” rating and set a $23.85 price target (up from $20.00) on shares of Cypress Semiconductor in a research report on Tuesday, June 4th. Finally, Craig Hallum lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Cypress Semiconductor has a consensus rating of “Hold” and a consensus target price of $20.75.

Shares of NASDAQ CY traded down $0.14 during mid-day trading on Thursday, hitting $22.82. 5,158,759 shares of the stock traded hands, compared to its average volume of 5,261,601. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 1.42. Cypress Semiconductor has a 52 week low of $11.75 and a 52 week high of $23.11. The company has a market capitalization of $8.48 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.57 and a beta of 1.86. The stock has a fifty day moving average of $22.42.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The firm had revenue of $532.20 million for the quarter, compared to the consensus estimate of $530.96 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. Analysts forecast that Cypress Semiconductor will post 0.89 EPS for the current fiscal year.

In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $22.45, for a total value of $67,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.16, for a total value of $443,200.00. Following the completion of the transaction, the chief executive officer now owns 521,745 shares of the company’s stock, valued at approximately $11,561,869.20. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock worth $1,183,050 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. TCW Group Inc. raised its stake in shares of Cypress Semiconductor by 0.4% in the first quarter. TCW Group Inc. now owns 9,521,143 shares of the semiconductor company’s stock worth $142,055,000 after purchasing an additional 37,670 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in shares of Cypress Semiconductor by 7.4% in the first quarter. Ceredex Value Advisors LLC now owns 5,527,700 shares of the semiconductor company’s stock worth $83,075,000 after purchasing an additional 378,900 shares during the last quarter. Villere ST Denis J & Co. LLC increased its position in Cypress Semiconductor by 2.3% during the first quarter. Villere ST Denis J & Co. LLC now owns 5,265,327 shares of the semiconductor company’s stock valued at $78,558,000 after acquiring an additional 119,955 shares during the last quarter. Geode Capital Management LLC increased its position in Cypress Semiconductor by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 3,953,810 shares of the semiconductor company’s stock valued at $50,292,000 after acquiring an additional 488,965 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cypress Semiconductor during the fourth quarter valued at $48,029,000. Hedge funds and other institutional investors own 79.64% of the company’s stock.

Cypress Semiconductor Company Profile

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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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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