Cypress Semiconductor Co. (CY) Expected to Announce Quarterly Sales of $669.62 Million

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Equities research analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to post sales of $669.62 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Cypress Semiconductor’s earnings, with estimates ranging from $662.90 million to $674.55 million. Cypress Semiconductor reported sales of $604.57 million during the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Cypress Semiconductor will report full year sales of $2.52 billion for the current year, with estimates ranging from $2.51 billion to $2.54 billion. For the next financial year, analysts expect that the firm will report sales of $2.66 billion, with estimates ranging from $2.58 billion to $2.74 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Cypress Semiconductor had a return on equity of 18.51% and a net margin of 0.49%. The company had revenue of $624.00 million for the quarter, compared to analyst estimates of $618.49 million. During the same quarter in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year.

CY has been the topic of a number of recent analyst reports. ValuEngine lowered Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Barclays reaffirmed a “hold” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a research report on Sunday, July 29th. Zacks Investment Research lowered Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, September 26th. BidaskClub raised Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.86.

Shares of Cypress Semiconductor stock traded down $0.56 during trading hours on Monday, reaching $13.73. 8,519,237 shares of the company’s stock were exchanged, compared to its average volume of 5,602,169. Cypress Semiconductor has a 52-week low of $13.61 and a 52-week high of $18.87. The firm has a market cap of $5.24 billion, a PE ratio of 22.88, a P/E/G ratio of 0.85 and a beta of 2.10. The company has a quick ratio of 0.94, a current ratio of 1.37 and a debt-to-equity ratio of 0.48.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Thursday, September 27th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Wednesday, September 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 73.33%.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $15.39, for a total value of $46,170.00. Following the transaction, the executive vice president now directly owns 114,157 shares of the company’s stock, valued at approximately $1,756,876.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 11,017 shares of company stock worth $177,676 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CY. Envestnet Asset Management Inc. lifted its holdings in shares of Cypress Semiconductor by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 64,404 shares of the semiconductor company’s stock worth $1,072,000 after buying an additional 3,219 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Cypress Semiconductor in the first quarter worth about $180,000. Northern Trust Corp lifted its holdings in shares of Cypress Semiconductor by 4.9% in the first quarter. Northern Trust Corp now owns 2,675,378 shares of the semiconductor company’s stock worth $45,373,000 after buying an additional 124,481 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Cypress Semiconductor by 4.2% in the first quarter. Great West Life Assurance Co. Can now owns 207,610 shares of the semiconductor company’s stock valued at $3,520,000 after purchasing an additional 8,343 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Cypress Semiconductor by 86.8% in the first quarter. Hsbc Holdings PLC now owns 150,143 shares of the semiconductor company’s stock valued at $2,547,000 after purchasing an additional 69,778 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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