Analysts Expect Cypress Semiconductor Co. (CY) Will Post Quarterly Sales of $580.38 Million

Analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to announce sales of $580.38 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cypress Semiconductor’s earnings, with the highest sales estimate coming in at $582.63 million and the lowest estimate coming in at $579.60 million. Cypress Semiconductor posted sales of $531.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The company is expected to announce its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Cypress Semiconductor will report full year sales of $580.38 million for the current fiscal year, with estimates ranging from $2.41 billion to $2.56 billion. For the next fiscal year, analysts expect that the company will post sales of $2.59 billion per share, with estimates ranging from $2.47 billion to $2.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Cypress Semiconductor.

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Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The firm had revenue of $597.54 million for the quarter, compared to analyst estimates of $593.15 million. During the same quarter in the prior year, the company earned $0.15 EPS. Cypress Semiconductor’s revenue was up 12.7% on a year-over-year basis.

CY has been the topic of several research reports. SunTrust Banks reissued a “hold” rating and set a $19.00 target price on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Zacks Investment Research raised Cypress Semiconductor from a “strong sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, January 31st. Craig Hallum reaffirmed a “buy” rating and issued a $21.00 price target on shares of Cypress Semiconductor in a research report on Tuesday, December 5th. Piper Jaffray started coverage on Cypress Semiconductor in a research report on Monday, December 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $14.50 price target on shares of Cypress Semiconductor in a research report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.19.

In related news, EVP Sam Geha sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the transaction, the executive vice president now owns 64,447 shares in the company, valued at approximately $1,191,625.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $17.08, for a total value of $51,240.00. Following the transaction, the senior vice president now owns 65,445 shares in the company, valued at approximately $1,117,800.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,643 shares of company stock worth $1,478,110. Company insiders own 0.69% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Penbrook Management LLC acquired a new stake in Cypress Semiconductor during the 4th quarter worth approximately $184,000. Xact Kapitalforvaltning AB acquired a new stake in Cypress Semiconductor during the 4th quarter worth approximately $457,000. Envestnet Asset Management Inc. lifted its position in Cypress Semiconductor by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 61,185 shares of the semiconductor company’s stock worth $933,000 after acquiring an additional 5,011 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Cypress Semiconductor during the 4th quarter worth approximately $3,217,000. Finally, Park West Asset Management LLC acquired a new stake in Cypress Semiconductor during the 4th quarter worth approximately $12,954,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

CY traded up $0.34 during mid-day trading on Friday, hitting $16.96. 5,578,247 shares of the stock were exchanged, compared to its average volume of 6,499,712. Cypress Semiconductor has a 1-year low of $12.50 and a 1-year high of $18.87. The company has a current ratio of 1.22, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $6,020.60, a price-to-earnings ratio of 28.27, a PEG ratio of 1.09 and a beta of 2.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, March 29th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.59%. Cypress Semiconductor’s payout ratio is currently 73.33%.

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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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