Cypress Semiconductor (NASDAQ:CY) Cut to Neutral at Susquehanna Bancshares

Susquehanna Bancshares cut shares of Cypress Semiconductor (NASDAQ:CY) from a positive rating to a neutral rating in a research report report published on Monday, June 3rd, The Fly reports.

A number of other brokerages also recently issued reports on CY. Piper Jaffray Companies downgraded Cypress Semiconductor from an overweight rating to a neutral rating in a report on Monday, June 3rd. Needham & Company LLC downgraded Cypress Semiconductor from a buy rating to a hold rating in a report on Monday, June 3rd. Craig Hallum cut Cypress Semiconductor from a buy rating to a hold rating in a research report on Monday, June 3rd. Roth Capital cut Cypress Semiconductor from a buy rating to a neutral rating and boosted their price objective for the company from $20.00 to $24.00 in a research report on Monday, June 3rd. Finally, Morgan Stanley upgraded Cypress Semiconductor from an underweight rating to an equal weight rating and boosted their price objective for the company from $11.50 to $15.50 in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $20.34.

NASDAQ CY traded up $0.03 during trading on Monday, hitting $22.24. The company’s stock had a trading volume of 5,953,825 shares, compared to its average volume of 6,615,392. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $8.14 billion, a P/E ratio of 19.17, a PEG ratio of 2.50 and a beta of 1.77. The firm’s 50 day moving average is $19.25. Cypress Semiconductor has a fifty-two week low of $11.75 and a fifty-two week high of $22.43.

Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, April 25th. The semiconductor company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The firm had revenue of $539.00 million during the quarter, compared to the consensus estimate of $535.13 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. On average, research analysts forecast that Cypress Semiconductor will post 0.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.

In other Cypress Semiconductor news, EVP Sam Geha sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $17.29, for a total transaction of $86,450.00. Following the sale, the executive vice president now owns 120,655 shares in the company, valued at approximately $2,086,124.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $16.37, for a total value of $49,110.00. Following the sale, the executive vice president now owns 162,979 shares in the company, valued at approximately $2,667,966.23. The disclosure for this sale can be found here. Insiders have sold 47,710 shares of company stock worth $947,912 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CY. Loeb Partners Corp purchased a new position in shares of Cypress Semiconductor in the 4th quarter valued at about $25,000. Essex Savings Bank purchased a new position in shares of Cypress Semiconductor in the 4th quarter valued at about $25,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Cypress Semiconductor in the 1st quarter valued at about $30,000. Resources Investment Advisors Inc. increased its holdings in shares of Cypress Semiconductor by 52.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 686 shares during the last quarter. Finally, PRW Wealth Management LLC purchased a new position in shares of Cypress Semiconductor in the 4th quarter valued at about $25,000. Institutional investors own 81.11% of the company’s stock.

Cypress Semiconductor Company Profile

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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

Featured Article: How to track put option volume

The Fly

Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.