$562.95 Million in Sales Expected for Cypress Semiconductor Co. (NASDAQ:CY) This Quarter

Equities analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to post $562.95 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Cypress Semiconductor’s earnings, with the lowest sales estimate coming in at $556.40 million and the highest estimate coming in at $570.41 million. Cypress Semiconductor reported sales of $604.47 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, January 30th.

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 $2.20 billion to $2.22 billion. For the next financial year, analysts forecast that the company will report sales of $2.34 billion, with estimates ranging from $2.32 billion to $2.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, October 24th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The business had revenue of $574.52 million for the quarter, compared to analyst estimates of $570.66 million. Cypress Semiconductor had a net margin of 12.74% and a return on equity of 17.34%. Cypress Semiconductor’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS.

A number of research firms recently weighed in on CY. Cowen lowered shares of Cypress Semiconductor from an “outperform” rating to a “market perform” rating and set a $23.85 target price on the stock. in a report on Thursday, November 14th. ValuEngine lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Mizuho reaffirmed a “hold” rating and set a $23.85 target price on shares of Cypress Semiconductor in a report on Friday, October 25th. Finally, BidaskClub lowered shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a report on Saturday, December 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.81.

Cypress Semiconductor stock traded up $0.05 during midday trading on Monday, reaching $23.46. 6,828,145 shares of the stock were exchanged, compared to its average volume of 4,605,849. The company’s fifty day moving average is $23.42 and its 200-day moving average is $23.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.71. The firm has a market cap of $8.68 billion, a PE ratio of 30.47 and a beta of 1.84. Cypress Semiconductor has a 52 week low of $13.37 and a 52 week high of $23.55.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th were paid a $0.11 dividend. The ex-dividend date was Tuesday, December 24th. This represents a $0.44 dividend on an annualized basis and a yield of 1.88%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.

In other Cypress Semiconductor news, CEO Hassane El-Khoury sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.45, for a total value of $586,250.00. Following the completion of the transaction, the chief executive officer now owns 364,851 shares of the company’s stock, valued at approximately $8,555,755.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Trent Thad sold 21,003 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.31, for a total transaction of $489,579.93. Following the completion of the transaction, the chief financial officer now directly owns 255,617 shares of the company’s stock, valued at approximately $5,958,432.27. The disclosure for this sale can be found here. In the last three months, insiders sold 146,003 shares of company stock valued at $3,404,830. Corporate insiders own 0.55% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Man Group plc boosted its stake in shares of Cypress Semiconductor by 422.0% in the 2nd quarter. Man Group plc now owns 543,210 shares of the semiconductor company’s stock valued at $12,081,000 after purchasing an additional 439,151 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Cypress Semiconductor by 1.4% in the 3rd quarter. California State Teachers Retirement System now owns 587,633 shares of the semiconductor company’s stock valued at $13,715,000 after purchasing an additional 7,977 shares in the last quarter. Vertex One Asset Management Inc. boosted its stake in shares of Cypress Semiconductor by 346.2% in the 4th quarter. Vertex One Asset Management Inc. now owns 392,631 shares of the semiconductor company’s stock valued at $9,160,000 after purchasing an additional 304,631 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Cypress Semiconductor by 46.4% in the 3rd quarter. Voloridge Investment Management LLC now owns 435,033 shares of the semiconductor company’s stock valued at $10,154,000 after purchasing an additional 137,884 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Cypress Semiconductor by 13.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 203,248 shares of the semiconductor company’s stock valued at $4,744,000 after buying an additional 24,709 shares during the period. 78.65% of the stock is owned by institutional investors.

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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