Cypress Semiconductor (CY) Coverage Initiated by Analysts at Piper Jaffray Companies

Piper Jaffray Companies initiated coverage on shares of Cypress Semiconductor (NASDAQ:CY) in a research note issued to investors on Monday. The firm issued an overweight rating on the semiconductor company’s stock.

CY has been the subject of several other reports. Loop Capital reissued a buy rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research note on Monday, November 20th. Susquehanna Bancshares assumed coverage on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. They issued a positive rating and a $20.00 price target for the company. BidaskClub raised shares of Cypress Semiconductor from a hold rating to a buy rating in a research note on Thursday, September 21st. Craig Hallum reissued a buy rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research note on Thursday, August 31st. Finally, Needham & Company LLC reissued a buy rating and issued a $20.00 price target on shares of Cypress Semiconductor in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cypress Semiconductor presently has a consensus rating of Buy and an average price target of $17.88.

Shares of Cypress Semiconductor (NASDAQ CY) opened at $15.61 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. The firm has a market cap of $5,085.05, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 2.75 and a beta of 2.01. Cypress Semiconductor has a one year low of $10.99 and a one year high of $17.42.

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 consensus estimate of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. equities analysts anticipate that Cypress Semiconductor will post 0.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is -110.00%.

In related news, SVP Sam Geha sold 8,269 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $16.70, for a total transaction of $138,092.30. Following the transaction, the senior vice president now owns 63,000 shares in the company, valued at $1,052,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Trent Thad sold 74,818 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.77, for a total transaction of $1,179,879.86. Following the transaction, the executive vice president now owns 172,105 shares in the company, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,604 shares of company stock valued at $1,666,027. Insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CY. BlackRock Inc. grew its holdings in Cypress Semiconductor by 0.8% in the second quarter. BlackRock Inc. now owns 27,848,587 shares of the semiconductor company’s stock worth $380,133,000 after purchasing an additional 231,335 shares during the period. TCW Group Inc. grew its holdings in Cypress Semiconductor by 13.8% in the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock worth $202,214,000 after purchasing an additional 1,628,930 shares during the period. FMR LLC grew its holdings in Cypress Semiconductor by 310.3% in the second quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock worth $168,875,000 after purchasing an additional 9,356,825 shares during the period. Ameriprise Financial Inc. grew its holdings in Cypress Semiconductor by 34.1% in the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock worth $184,179,000 after purchasing an additional 3,116,871 shares during the period. Finally, State Street Corp grew its holdings in Cypress Semiconductor by 3.4% in the second quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock worth $125,265,000 after purchasing an additional 302,001 shares during the period. Institutional investors own 97.37% 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.

Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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