Cypress Semiconductor Co. (CY) Expected to Post Quarterly Sales of $593.73 Million

Brokerages predict that Cypress Semiconductor Co. (NASDAQ:CY) will announce $593.73 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cypress Semiconductor’s earnings, with the lowest sales estimate coming in at $592.48 million and the highest estimate coming in at $598.20 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 firm is expected to report its next earnings report on Thursday, February 1st.

On average, analysts expect that Cypress Semiconductor will report full-year sales of $593.73 million for the current fiscal year, with estimates ranging from $2.32 billion to $2.33 billion. For the next 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 Investment Research’s sales calculations are an average based on a survey of research analysts that cover Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm had revenue of $604.57 million for the quarter, compared to analysts’ expectations of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. Cypress Semiconductor’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cypress Semiconductor in a research note on Friday, October 27th. Piper Jaffray Companies assumed coverage on shares of Cypress Semiconductor in a research note on Monday, December 18th. They issued an “overweight” rating and a $20.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of Cypress Semiconductor from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Bank of America reaffirmed a “buy” rating on shares of Cypress Semiconductor in a research note on Sunday, October 1st. Finally, BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cypress Semiconductor currently has a consensus rating of “Buy” and an average target price of $18.04.

Cypress Semiconductor (CY) traded down $0.05 during trading on Friday, reaching $15.24. 3,210,477 shares of the company’s stock traded hands, compared to its average volume of 6,143,924. The firm has a market cap of $5,085.05, a PE ratio of -38.10, a price-to-earnings-growth ratio of 2.75 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35. Cypress Semiconductor has a 52-week low of $10.99 and a 52-week high of $17.42.

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 $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently -110.00%.

In related news, SVP Sam Geha sold 14,517 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the completion of the sale, the senior vice president now directly owns 41,204 shares in the company, valued at $714,477.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $16.60, for a total transaction of $49,800.00. Following the sale, the senior vice president now owns 70,607 shares of the company’s stock, valued at $1,172,076.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,604 shares of company stock worth $1,666,027. 0.69% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Cypress Semiconductor by 15.8% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after acquiring an additional 210,992 shares during the last quarter. HAP Trading LLC acquired a new stake in Cypress Semiconductor in the third quarter valued at approximately $5,386,000. Westfield Capital Management Co. LP acquired a new stake in Cypress Semiconductor in the third quarter valued at approximately $53,009,000. Brookstone Capital Management lifted its stake in Cypress Semiconductor by 33.1% in the third quarter. Brookstone Capital Management now owns 27,370 shares of the semiconductor company’s stock valued at $411,000 after acquiring an additional 6,806 shares during the last quarter. Finally, Phocas Financial Corp. lifted its stake in Cypress Semiconductor by 4.5% in the second quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock valued at $13,517,000 after acquiring an additional 42,607 shares during the last quarter. Institutional investors and hedge funds 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.

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Earnings History and Estimates for Cypress Semiconductor (NASDAQ:CY)

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