Cypress Semiconductor Co. (CY) to Post Q1 2020 Earnings of $0.25 Per Share, SunTrust Banks Forecasts

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Cypress Semiconductor Co. (NASDAQ:CY) – Equities researchers at SunTrust Banks increased their Q1 2020 earnings per share estimates for shares of Cypress Semiconductor in a research note issued to investors on Wednesday, March 13th. SunTrust Banks analyst W. Stein now forecasts that the semiconductor company will post earnings per share of $0.25 for the quarter, up from their prior estimate of $0.24. SunTrust Banks also issued estimates for Cypress Semiconductor’s Q3 2020 earnings at $0.32 EPS.

Other equities analysts also recently issued research reports about the company. MKM Partners lifted their price target on Cypress Semiconductor to $18.00 and gave the company a “buy” rating in a research note on Friday. Bank of America restated a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a research note on Thursday. Needham & Company LLC restated a “buy” rating on shares of Cypress Semiconductor in a research note on Thursday. BidaskClub downgraded Cypress Semiconductor from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Finally, Zacks Investment Research downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Cypress Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $17.32.

CY stock opened at $15.09 on Friday. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.77 and a beta of 1.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.89. Cypress Semiconductor has a 52-week low of $11.75 and a 52-week high of $18.72.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. The firm had revenue of $604.47 million during the quarter, compared to analyst estimates of $598.72 million.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 28th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.92%. Cypress Semiconductor’s payout ratio is presently 37.93%.

In related news, EVP Sudhir Gopalswamy sold 12,598 shares of the company’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $14.00, for a total value of $176,372.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 4,300 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $13.00, for a total value of $55,900.00. The disclosure for this sale can be found here. Insiders sold a total of 19,898 shares of company stock worth $279,012 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Essex Savings Bank bought a new position in shares of Cypress Semiconductor in the fourth quarter worth $25,000. Loeb Partners Corp bought a new position in shares of Cypress Semiconductor in the fourth quarter worth $25,000. Resources Investment Advisors Inc. increased its holdings in shares of Cypress Semiconductor by 52.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 686 shares during the period. PRW Wealth Management LLC bought a new position in shares of Cypress Semiconductor in the fourth quarter worth $25,000. Finally, Dubuque Bank & Trust Co. bought a new position in shares of Cypress Semiconductor in the fourth quarter worth $36,000. 82.04% of the stock is currently owned by institutional investors and hedge funds.

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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