Cypress Semiconductor Co. (CY) Price Target Raised to $14.00

Cypress Semiconductor Co. (NASDAQ:CY) had its price target increased by analysts at Barclays PLC from $12.00 to $14.00 in a report issued on Wednesday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays PLC’s target price points to a potential downside of 0.64% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Craig Hallum raised their price objective on shares of Cypress Semiconductor from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective (up from $14.00) on shares of Cypress Semiconductor in a research note on Wednesday, March 29th. Mizuho reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Cypress Semiconductor in a research note on Tuesday, December 27th. Pacific Crest reaffirmed an “overweight” rating and issued a $17.00 price objective (up from $14.00) on shares of Cypress Semiconductor in a research note on Wednesday, March 29th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Cypress Semiconductor in a research note on Wednesday, March 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.00.

Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

Shares of Cypress Semiconductor (NASDAQ:CY) traded up 2.32% during trading on Wednesday, hitting $14.09. The stock had a trading volume of 5,796,836 shares. Cypress Semiconductor has a one year low of $8.41 and a one year high of $14.98. The stock’s market cap is $4.62 billion. The stock’s 50-day moving average price is $13.73 and its 200 day moving average price is $12.01.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, February 2nd. The semiconductor company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Cypress Semiconductor had a negative net margin of 35.69% and a positive return on equity of 3.52%. The business had revenue of $530.17 million for the quarter, compared to analysts’ expectations of $525.63 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Cypress Semiconductor’s revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that Cypress Semiconductor will post $0.67 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 20th. Shareholders of record on Thursday, March 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $0.44 annualized dividend and a yield of 3.12%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -20.37%.

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In related news, Director Eric Benhamou sold 50,000 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $14.18, for a total transaction of $709,000.00. Following the sale, the director now directly owns 118,538 shares in the company, valued at $1,680,868.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.33% of the company’s stock.

Large investors have recently modified their holdings of the company. Hourglass Capital LLC raised its stake in shares of Cypress Semiconductor by 23.5% in the third quarter. Hourglass Capital LLC now owns 804,470 shares of the semiconductor company’s stock worth $9,782,000 after buying an additional 153,200 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cypress Semiconductor by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 3,305,114 shares of the semiconductor company’s stock worth $40,191,000 after buying an additional 78,633 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Cypress Semiconductor by 0.6% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,845,458 shares of the semiconductor company’s stock worth $22,441,000 after buying an additional 11,726 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Cypress Semiconductor by 14.8% in the third quarter. First Trust Advisors LP now owns 168,209 shares of the semiconductor company’s stock worth $2,045,000 after buying an additional 21,687 shares during the last quarter. Finally, Trellus Management Company LLC raised its stake in shares of Cypress Semiconductor by 86.7% in the third quarter. Trellus Management Company LLC now owns 56,000 shares of the semiconductor company’s stock worth $681,000 after buying an additional 26,000 shares during the last quarter. Institutional investors and hedge funds own 92.40% of the company’s stock.

Cypress Semiconductor Company Profile

Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.

5 Day Chart for NASDAQ:CY

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