Cypress Semiconductor Corporation (NASDAQ:CY) issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05, Bloomberg Earnings reports. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The business had revenue of $593.80 million during the quarter, compared to analyst estimates of $546.82 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Cypress Semiconductor Corporation updated its Q3 guidance to $0.21-0.25 EPS.
Shares of Cypress Semiconductor Corporation (CY) traded down 1.13% during midday trading on Tuesday, hitting $14.03. The stock had a trading volume of 3,918,286 shares. The stock has a 50-day moving average of $13.97 and a 200 day moving average of $13.49. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11. The stock’s market cap is $4.66 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.14%. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.
In other news, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $14.01, for a total transaction of $89,453.85. Following the transaction, the director now directly owns 69,124 shares of the company’s stock, valued at $968,427.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $13.31, for a total transaction of $665,500.00. Following the transaction, the director now directly owns 89,997 shares in the company, valued at $1,197,860.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,385 shares of company stock worth $1,177,054. Insiders own 0.69% of the company’s stock.
CY has been the subject of a number of recent analyst reports. TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. SunTrust Banks, Inc. upgraded Cypress Semiconductor Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.59 to $17.00 in a research report on Monday, April 10th. Zacks Investment Research upgraded Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, June 29th. KeyCorp set a $17.00 target price on Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Bank of America Corporation restated a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor Corporation in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.67.
About Cypress Semiconductor Corporation
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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