Cypress Semiconductor Corporation (NASDAQ:CY) released its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04, Bloomberg Earnings reports. Cypress Semiconductor Corporation had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company had revenue of $604.57 million for the quarter, compared to the consensus estimate of $602.16 million. During the same quarter in the previous year, the company earned $0.15 EPS. Cypress Semiconductor Corporation’s quarterly revenue was up 14.0% compared to the same quarter last year. Cypress Semiconductor Corporation updated its Q4 guidance to $0.23-0.27 EPS.
Shares of Cypress Semiconductor Corporation (NASDAQ:CY) traded up $0.24 during mid-day trading on Friday, reaching $16.97. The company had a trading volume of 10,404,610 shares, compared to its average volume of 5,614,591. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. The stock has a market capitalization of $5,582.21, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 3.01 and a beta of 2.02. Cypress Semiconductor Corporation has a 12 month low of $10.03 and a 12 month high of $17.15.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor Corporation’s payout ratio is -110.00%.
In other Cypress Semiconductor Corporation news, Director Camillo Martino acquired 10,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $258,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Catherine P. Lego acquired 20,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average price of $13.69 per share, with a total value of $273,800.00. The disclosure for this purchase can be found here. Insiders have acquired 60,000 shares of company stock valued at $834,100 in the last three months. Insiders own 0.69% of the company’s stock.
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A number of analysts have commented on the stock. BidaskClub upgraded shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Barclays PLC upgraded shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Craig Hallum reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a research note on Monday, September 18th. Finally, Credit Suisse Group increased their price target on shares of Cypress Semiconductor Corporation from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Cypress Semiconductor Corporation has a consensus rating of “Buy” and an average price target of $17.67.
About Cypress Semiconductor Corporation
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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