Roth Capital Lowers Cypress Semiconductor (NASDAQ:CY) to Neutral

Cypress Semiconductor (NASDAQ:CY) was downgraded by stock analysts at Roth Capital from a “buy” rating to a “neutral” rating in a report issued on Monday, June 3rd, The Fly reports. They presently have a $24.00 price target on the semiconductor company’s stock, up from their prior price target of $20.00. Roth Capital’s price objective suggests a potential upside of 7.91% from the stock’s previous close.

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. 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. Finally, Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, May 1st. 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.

In other news, EVP Sam Geha sold 5,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $15.90, for a total value of $79,500.00. Following the transaction, the executive vice president now owns 120,603 shares of the company’s stock, valued at approximately $1,917,587.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.16, for a total value of $443,200.00. Following the completion of the transaction, the chief executive officer now directly owns 521,745 shares in the company, valued at approximately $11,561,869.20. The disclosure for this sale can be found here. Insiders have sold 47,710 shares of company stock valued at $947,912 over the last quarter. 0.55% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Essex Savings Bank acquired a new position in Cypress Semiconductor during the 4th quarter worth about $25,000. Loeb Partners Corp acquired a new position in Cypress Semiconductor during the 4th quarter worth about $25,000. Resources Investment Advisors Inc. lifted its stake in Cypress Semiconductor by 52.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 686 shares in the last quarter. PRW Wealth Management LLC acquired a new position in Cypress Semiconductor during the 4th quarter worth about $25,000. Finally, Sterling Investment Advisors Ltd. acquired a new position in Cypress Semiconductor during the 1st quarter worth about $30,000. 81.11% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Cypress Semiconductor (NASDAQ:CY)

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