Zacks: Analysts Anticipate Cypress Semiconductor Co. (CY) Will Post Quarterly Sales of $593.73 Million

Analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to report $593.73 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cypress Semiconductor’s earnings, with the highest sales estimate coming in at $598.20 million and the lowest estimate coming in at $592.48 million. Cypress Semiconductor reported sales of $530.17 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12%. The business is expected to announce its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Cypress Semiconductor will report full year sales of $593.73 million for the current year, with estimates ranging from $2.32 billion to $2.33 billion. For the next financial year, analysts expect that the business will report sales of $2.47 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Several research analysts have weighed in on the company. Loop Capital restated a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research note on Monday, November 20th. Mizuho reiterated a “buy” rating and set a $20.00 target price (up from $18.00) on shares of Cypress Semiconductor in a research report on Friday. BidaskClub upgraded Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Tuesday, October 31st. Finally, Barclays downgraded Cypress Semiconductor from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $18.00 to $17.00 in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.25.

In related news, SVP Sam Geha sold 14,517 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $17.34, for a total transaction of $251,724.78. Following the sale, the senior vice president now owns 41,204 shares in the company, valued at approximately $714,477.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $15.51, for a total value of $46,530.00. Following the sale, the senior vice president now owns 68,445 shares in the company, valued at approximately $1,061,581.95. The disclosure for this sale can be found here. Insiders have sold a total of 28,786 shares of company stock valued at $486,147 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. San Francisco Sentry Investment Group CA increased its stake in Cypress Semiconductor by 1,061.4% in the third quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock worth $100,000 after purchasing an additional 6,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cypress Semiconductor by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,207 shares of the semiconductor company’s stock worth $167,000 after purchasing an additional 1,156 shares during the period. ClariVest Asset Management LLC increased its stake in Cypress Semiconductor by 80.6% in the third quarter. ClariVest Asset Management LLC now owns 12,321 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 5,500 shares during the period. Nordea Investment Management AB increased its stake in Cypress Semiconductor by 80.6% in the third quarter. Nordea Investment Management AB now owns 12,321 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 5,500 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Cypress Semiconductor in the third quarter worth $204,000. Institutional investors own 97.38% of the company’s stock.

Cypress Semiconductor (NASDAQ CY) opened at $17.07 on Tuesday. Cypress Semiconductor has a 52 week low of $10.99 and a 52 week high of $17.42. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $5,700.00, a P/E ratio of -42.68, a price-to-earnings-growth ratio of 1.96 and a beta of 2.01.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.58%. Cypress Semiconductor’s dividend payout ratio is currently -110.00%.

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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.

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