Cypress Semiconductor (NASDAQ:CY) Cut to “Hold” at BidaskClub

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

CY has been the topic of a number of other research reports. Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, July 30th. Mizuho reissued a “hold” rating and issued a $23.85 price objective on shares of Cypress Semiconductor in a research report on Monday, July 29th. Finally, ValuEngine cut Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.75.

CY stock opened at $23.45 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.41. Cypress Semiconductor has a one year low of $11.75 and a one year high of $23.48. The firm has a market capitalization of $8.64 billion, a PE ratio of 20.22 and a beta of 1.82. The firm has a 50-day moving average of $23.20 and a two-hundred day moving average of $20.44.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. Cypress Semiconductor’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that Cypress Semiconductor will post 0.9 earnings per share for the current year.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $22.45, for a total value of $67,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 9,000 shares of company stock valued at $206,280. 0.55% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CY. Enlightenment Research LLC bought a new position in Cypress Semiconductor during the second quarter worth about $196,000. Boussard & Gavaudan Investment Management LLP bought a new position in Cypress Semiconductor during the second quarter worth about $1,258,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cypress Semiconductor by 4.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,780 shares of the semiconductor company’s stock worth $529,000 after buying an additional 1,018 shares during the last quarter. Man Group plc boosted its holdings in Cypress Semiconductor by 422.0% during the second quarter. Man Group plc now owns 543,210 shares of the semiconductor company’s stock worth $12,081,000 after buying an additional 439,151 shares during the last quarter. Finally, Alpha Windward LLC boosted its holdings in Cypress Semiconductor by 2,355.3% during the second quarter. Alpha Windward LLC now owns 30,912 shares of the semiconductor company’s stock worth $711,000 after buying an additional 29,653 shares during the last quarter. Hedge funds and other institutional investors own 80.94% 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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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