Analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to report $0.08 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cypress Semiconductor’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.09. Cypress Semiconductor also posted earnings per share of $0.08 in the same quarter last year. The business is scheduled to announce its next quarterly earnings report on Thursday, July 27th.
According to Zacks, analysts expect that Cypress Semiconductor will report full-year earnings of $0.41 per share for the current fiscal year, with EPS estimates ranging from $0.33 to $0.47. For the next financial year, analysts anticipate that the company will report earnings of $0.71 per share, with EPS estimates ranging from $0.63 to $0.86. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings data on Thursday, April 27th. The semiconductor company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Cypress Semiconductor had a negative net margin of 35.69% and a positive return on equity of 3.52%. The business had revenue of $532 million for the quarter, compared to analyst estimates of $511.41 million. During the same period last year, the business posted $0.07 earnings per share.
A number of research firms recently issued reports on CY. Loop Capital reiterated a “buy” rating and set a $16.00 target price on shares of Cypress Semiconductor in a research report on Wednesday, March 29th. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “sell” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price (up previously from $14.00) on shares of Cypress Semiconductor in a research report on Wednesday, March 29th. Barclays PLC restated a “hold” rating and set a $12.00 price objective on shares of Cypress Semiconductor in a report on Friday, January 20th. Finally, Credit Suisse Group AG restated a “neutral” rating on shares of Cypress Semiconductor in a report on Thursday, March 30th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.00.
Shares of Cypress Semiconductor (NASDAQ:CY) traded up 2.05% during midday trading on Tuesday, hitting $13.43. 7,614,586 shares of the company were exchanged. Cypress Semiconductor has a one year low of $9.05 and a one year high of $14.98. The firm’s market capitalization is $4.42 billion. The firm’s 50 day moving average price is $13.82 and its 200 day moving average price is $12.20.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Stockholders of record on Thursday, March 30th were paid a $0.11 dividend. The ex-dividend date was Tuesday, March 28th. This represents a $0.44 annualized dividend and a dividend yield of 3.28%. Cypress Semiconductor’s payout ratio is -20.37%.
In other news, Director Eric Benhamou sold 50,000 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $14.18, for a total value of $709,000.00. Following the completion of the sale, the director now owns 118,538 shares in the company, valued at approximately $1,680,868.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.33% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. TCW Group Inc. raised its stake in Cypress Semiconductor by 14.6% in the fourth quarter. TCW Group Inc. now owns 9,980,918 shares of the semiconductor company’s stock valued at $114,181,000 after buying an additional 1,270,597 shares during the last quarter. RidgeWorth Capital Management LLC raised its stake in Cypress Semiconductor by 8.0% in the fourth quarter. RidgeWorth Capital Management LLC now owns 8,241,200 shares of the semiconductor company’s stock valued at $95,186,000 after buying an additional 609,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cypress Semiconductor by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 4,932,482 shares of the semiconductor company’s stock valued at $67,871,000 after buying an additional 438,834 shares during the last quarter. Allianz Asset Management AG raised its stake in Cypress Semiconductor by 95.5% in the fourth quarter. Allianz Asset Management AG now owns 4,499,350 shares of the semiconductor company’s stock valued at $51,473,000 after buying an additional 2,198,075 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in Cypress Semiconductor by 49.9% in the first quarter. Peregrine Capital Management LLC now owns 3,360,752 shares of the semiconductor company’s stock valued at $47,857,000 after buying an additional 1,118,807 shares during the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.
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About Cypress Semiconductor
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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