BidaskClub Lowers Cypress Semiconductor (CY) to Hold

Cypress Semiconductor (NASDAQ:CY) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

CY has been the subject of several other reports. MKM Partners initiated coverage on Cypress Semiconductor in a research note on Thursday, October 4th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley dropped their target price on Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, September 24th. Barclays dropped their target price on Cypress Semiconductor from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. SunTrust Banks dropped their target price on Cypress Semiconductor to $13.50 and set a “hold” rating for the company in a report on Friday, October 26th. Finally, Cowen dropped their target price on Cypress Semiconductor from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.35.

NASDAQ CY opened at $13.90 on Friday. Cypress Semiconductor has a one year low of $11.75 and a one year high of $18.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 1.02. The firm has a market capitalization of $5.03 billion, a P/E ratio of 23.17, a PEG ratio of 1.10 and a beta of 2.09.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, October 25th. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Cypress Semiconductor had a return on equity of 21.26% and a net margin of 2.08%. The firm had revenue of $673.04 million during the quarter, compared to the consensus estimate of $669.62 million. On average, sell-side analysts forecast that Cypress Semiconductor will post 1.08 earnings per share for the current year.

In other Cypress Semiconductor news, Director Camillo Martino purchased 5,000 shares of the stock in a transaction dated Tuesday, November 13th. The stock was acquired at an average cost of $12.80 per share, for a total transaction of $64,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $15.39, for a total value of $46,170.00. Following the transaction, the executive vice president now owns 114,157 shares of the company’s stock, valued at $1,756,876.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,000 shares of company stock valued at $824,170. 0.43% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. purchased a new position in shares of Cypress Semiconductor during the 3rd quarter worth $151,000. grace capital purchased a new position in Cypress Semiconductor during the 2nd quarter valued at about $156,000. Vantage Financial Partners Ltd. Inc. purchased a new position in Cypress Semiconductor during the 2nd quarter valued at about $159,000. GWM Advisors LLC purchased a new position in Cypress Semiconductor during the 3rd quarter valued at about $160,000. Finally, Hartford Investment Management Co. purchased a new position in Cypress Semiconductor during the 2nd quarter valued at about $170,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

About Cypress Semiconductor

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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