$535.23 Million in Sales Expected for Cypress Semiconductor Co. (CY) This Quarter

Equities research analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to report sales of $535.23 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Cypress Semiconductor’s earnings. The lowest sales estimate is $534.30 million and the highest is $536.46 million. Cypress Semiconductor reported sales of $582.24 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Cypress Semiconductor will report full-year sales of $2.21 billion for the current year, with estimates ranging from $2.18 billion to $2.26 billion. For the next year, analysts expect that the business will report sales of $2.35 billion, with estimates ranging from $2.30 billion to $2.46 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. The business had revenue of $604.47 million for the quarter, compared to analyst estimates of $598.72 million.

Several research analysts have recently weighed in on CY shares. ValuEngine raised Cypress Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price (down from $20.00) on shares of Cypress Semiconductor in a research note on Friday, February 1st. Roth Capital reduced their target price on Cypress Semiconductor from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Finally, Piper Jaffray Companies set a $15.00 target price on Cypress Semiconductor and gave the stock a “buy” rating in a research note on Friday, October 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.45.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $14.00, for a total value of $42,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 4,300 shares of the stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $13.00, for a total value of $55,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,898 shares of company stock valued at $968,272. 0.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Cypress Semiconductor in the 3rd quarter worth $5,458,000. Vanguard Group Inc. increased its stake in shares of Cypress Semiconductor by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 37,219,787 shares of the semiconductor company’s stock worth $539,316,000 after acquiring an additional 2,820,094 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Cypress Semiconductor by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 598,602 shares of the semiconductor company’s stock worth $8,674,000 after acquiring an additional 19,087 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of Cypress Semiconductor in the 3rd quarter worth $2,752,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Cypress Semiconductor by 22.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 81,866 shares of the semiconductor company’s stock worth $1,186,000 after acquiring an additional 15,252 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Shares of CY stock opened at $14.96 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.89. The company has a market cap of $5.36 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.85. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $18.87.

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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