$593.73 Million in Sales Expected for Cypress Semiconductor Co. (CY) This Quarter

Wall Street brokerages expect Cypress Semiconductor Co. (NASDAQ:CY) to post sales of $593.73 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cypress Semiconductor’s earnings. The lowest sales estimate is $592.48 million and the highest is $598.20 million. Cypress Semiconductor posted sales of $530.17 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12%. The firm is expected to issue its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Cypress Semiconductor will report full year sales of $593.73 million for the current financial year, with estimates ranging from $2.32 billion to $2.33 billion. For the next year, analysts expect that the business will report sales of $2.47 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share.

A number of equities research analysts have recently commented on the stock. Loop Capital reiterated a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor in a report on Monday, November 20th. Susquehanna Bancshares assumed coverage on shares of Cypress Semiconductor in a report on Wednesday. They set a “positive” rating and a $20.00 price target for the company. BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Craig Hallum reissued a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a research report on Thursday, August 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Cypress Semiconductor presently has an average rating of “Buy” and an average price target of $17.88.

Shares of Cypress Semiconductor (NASDAQ:CY) traded up $0.20 during midday trading on Wednesday, hitting $15.24. 7,005,546 shares of the stock were exchanged, compared to its average volume of 6,309,827. The stock has a market capitalization of $5,018.32, a P/E ratio of 31.33, a PEG ratio of 2.71 and a beta of 2.01. Cypress Semiconductor has a 1-year low of $10.95 and a 1-year high of $17.42. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.89%. Cypress Semiconductor’s dividend payout ratio is presently -110.00%.

In other Cypress Semiconductor news, SVP Sam Geha sold 14,517 shares of Cypress Semiconductor stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the transaction, the senior vice president now directly owns 41,204 shares of the company’s stock, valued at $714,477.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $16.60, for a total transaction of $49,800.00. Following the transaction, the senior vice president now directly owns 70,607 shares in the company, valued at $1,172,076.20. The disclosure for this sale can be found here. Insiders sold 100,604 shares of company stock worth $1,619,497 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA lifted its position in Cypress Semiconductor by 1,061.4% during the third quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 6,082 shares in the last quarter. Ffcm LLC raised its stake in shares of Cypress Semiconductor by 139.2% during the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 4,740 shares during the period. IFP Advisors Inc raised its stake in shares of Cypress Semiconductor by 13.3% during the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 1,014 shares during the period. Thompson Davis & CO. Inc. raised its stake in shares of Cypress Semiconductor by 45.6% during the second quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 3,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cypress Semiconductor by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,207 shares of the semiconductor company’s stock valued at $167,000 after purchasing an additional 1,156 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Cypress Semiconductor (NASDAQ:CY)

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