Cypress Semiconductor (CY) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Cypress Semiconductor (NASDAQ:CY) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Cypress Semiconductor reported strong fourth-quarter 2017 results. Both revenues and earnings increased on a year-over-year basis. The company is currently benefiting from improvement in automotive, IoT wireless connectivity and USB-C solutions. Cypress’ advanced technology, momentum in new products, increased customer wins and growth initiatives are encouraging. The acquisition of Wireless Internet of Things (IoT) business has further strengthened the company’s dominant position in the IoT market. However, weak and uncertain macro environment remain concerns. In the past 12-months, the stock has underperformed the industry it belongs to.”

A number of other research analysts have also weighed in on the stock. Craig Hallum reaffirmed a buy rating and issued a $21.00 price target on shares of Cypress Semiconductor in a research note on Tuesday, December 5th. SunTrust Banks reaffirmed a hold rating and issued a $19.00 price target on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Susquehanna Bancshares began coverage on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. They issued a positive rating and a $20.00 price target on the stock. Loop Capital reaffirmed a buy rating and issued a $20.00 price target (up from $17.00) on shares of Cypress Semiconductor in a research note on Friday, October 27th. Finally, BidaskClub raised shares of Cypress Semiconductor from a buy rating to a strong-buy rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Cypress Semiconductor has a consensus rating of Buy and an average price target of $19.04.

Shares of Cypress Semiconductor (NASDAQ CY) opened at $15.37 on Wednesday. Cypress Semiconductor has a 12-month low of $12.23 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.59 and a current ratio of 0.94. The company has a market capitalization of $5,170.00, a PE ratio of -54.89, a PEG ratio of 0.98 and a beta of 2.17.

Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The firm had revenue of $597.54 million for the quarter, compared to analysts’ expectations of $593.15 million. During the same period last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. analysts predict that Cypress Semiconductor will post 0.92 earnings per share for the current fiscal year.

In other news, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $15.51, for a total transaction of $46,530.00. Following the sale, the senior vice president now owns 68,445 shares of the company’s stock, valued at approximately $1,061,581.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the senior vice president now directly owns 41,204 shares in the company, valued at approximately $714,477.36. The disclosure for this sale can be found here. Insiders sold a total of 23,517 shares of company stock worth $399,295 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA raised its position in shares of Cypress Semiconductor by 1,061.4% during the 3rd 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 during the period. Thompson Davis & CO. Inc. raised its position in shares of Cypress Semiconductor by 750.0% during the 4th quarter. Thompson Davis & CO. Inc. now owns 8,500 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 7,500 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Cypress Semiconductor during the 4th quarter valued at approximately $145,000. ClariVest Asset Management LLC raised its position in shares of Cypress Semiconductor by 80.6% during the 3rd quarter. ClariVest Asset Management LLC now owns 12,321 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 5,500 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Cypress Semiconductor by 80.6% during the 3rd quarter. Nordea Investment Management AB now owns 12,321 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 5,500 shares during the period. 98.42% of the stock is currently owned by hedge funds and other institutional investors.

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Cypress Semiconductor Company Profile

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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