Cypress Semiconductor (CY) Price Target Increased to $22.00 by Analysts at KeyCorp

Cypress Semiconductor (NASDAQ:CY) had its target price boosted by KeyCorp from $18.00 to $22.00 in a research note released on Friday morning. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other research firms also recently commented on CY. Piper Jaffray Companies reiterated a buy rating and issued a $22.00 price objective on shares of Cypress Semiconductor in a report on Monday, January 29th. Zacks Investment Research downgraded shares of Cypress Semiconductor from a buy rating to a sell rating in a report on Thursday, February 1st. Needham & Company LLC reiterated a buy rating on shares of Cypress Semiconductor in a report on Friday. Loop Capital reiterated a buy rating and issued a $20.00 price objective on shares of Cypress Semiconductor in a report on Monday, November 20th. Finally, Mizuho reiterated a buy rating and issued a $20.00 price objective (up previously from $18.00) on shares of Cypress Semiconductor in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Cypress Semiconductor currently has an average rating of Buy and a consensus price target of $19.04.

Shares of Cypress Semiconductor (NASDAQ:CY) opened at $15.70 on Friday. The company has a market cap of $5,240.00, a PE ratio of -56.07, a price-to-earnings-growth ratio of 1.97 and a beta of 2.17. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. Cypress Semiconductor has a 1-year low of $12.23 and a 1-year high of $17.90.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data 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. The company had revenue of $597.54 million during the quarter, compared to the consensus estimate of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. Cypress Semiconductor’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. equities research analysts expect that Cypress Semiconductor will post 0.87 earnings per share for the current year.

In related news, SVP Sudhir Gopalswamy sold 3,000 shares of the 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 completion of the transaction, the senior vice president now owns 70,607 shares of the company’s stock, valued at approximately $1,172,076.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sam Geha sold 8,269 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $16.70, for a total transaction of $138,092.30. Following the transaction, the senior vice president now directly owns 63,000 shares of the company’s stock, valued at approximately $1,052,100. The disclosure for this sale can be found here. In the last three months, insiders sold 31,786 shares of company stock valued at $537,387. Corporate insiders own 0.69% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Cypress Semiconductor by 15.8% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock worth $23,180,000 after purchasing an additional 210,992 shares during the period. HAP Trading LLC purchased a new position in shares of Cypress Semiconductor during the 3rd quarter worth approximately $5,386,000. Westfield Capital Management Co. LP purchased a new position in shares of Cypress Semiconductor during the 3rd quarter worth approximately $53,009,000. Brookstone Capital Management boosted its position in shares of Cypress Semiconductor by 33.1% during the 3rd quarter. Brookstone Capital Management now owns 27,370 shares of the semiconductor company’s stock worth $411,000 after purchasing an additional 6,806 shares during the period. Finally, Phocas Financial Corp. boosted its position in shares of Cypress Semiconductor by 4.5% during the 2nd quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock worth $13,517,000 after purchasing an additional 42,607 shares during the period. 98.42% of the stock is 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.

Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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