$531.85 Million in Sales Expected for Cypress Semiconductor Co. (NASDAQ:CY) This Quarter

Equities research analysts predict that Cypress Semiconductor Co. (NASDAQ:CY) will announce $531.85 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Cypress Semiconductor’s earnings. The highest sales estimate is $534.65 million and the lowest is $529.89 million. Cypress Semiconductor posted sales of $624.09 million in the same quarter last year, which suggests a negative year-over-year growth rate of 14.8%. The business is expected to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Cypress Semiconductor will report full year sales of $2.20 billion for the current fiscal year, with estimates ranging from $2.19 billion to $2.22 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.33 billion, with estimates ranging from $2.28 billion to $2.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a net margin of 14.97% and a return on equity of 21.23%. The firm had revenue of $539.00 million during the quarter, compared to analyst estimates of $535.13 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year.

Several research firms have recently commented on CY. Zacks Investment Research lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Craig Hallum reiterated a “buy” rating and issued a $20.00 target price (up previously from $18.00) on shares of Cypress Semiconductor in a research report on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a research report on Friday, April 26th. Needham & Company LLC increased their target price on shares of Cypress Semiconductor to $20.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Roth Capital lowered shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and increased their target price for the company from $20.00 to $24.00 in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Cypress Semiconductor has an average rating of “Hold” and a consensus target price of $20.34.

In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $16.37, for a total transaction of $49,110.00. Following the completion of the sale, the executive vice president now directly owns 162,979 shares of the company’s stock, valued at $2,667,966.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $22.16, for a total transaction of $443,200.00. Following the sale, the chief executive officer now directly owns 521,745 shares of the company’s stock, valued at $11,561,869.20. The disclosure for this sale can be found here. Insiders sold a total of 47,710 shares of company stock valued at $947,912 over the last three months. 0.55% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Cypress Semiconductor in the fourth quarter worth approximately $48,029,000. Vanguard Group Inc increased its holdings in Cypress Semiconductor by 8.2% in the third quarter. Vanguard Group Inc now owns 37,219,787 shares of the semiconductor company’s stock worth $539,316,000 after buying an additional 2,820,094 shares during the last quarter. Millennium Management LLC increased its holdings in Cypress Semiconductor by 103.2% in the fourth quarter. Millennium Management LLC now owns 2,865,315 shares of the semiconductor company’s stock worth $36,447,000 after buying an additional 1,455,190 shares during the last quarter. Marshall Wace LLP acquired a new position in Cypress Semiconductor in the first quarter worth approximately $12,149,000. Finally, Deutsche Bank AG increased its holdings in Cypress Semiconductor by 323.1% in the fourth quarter. Deutsche Bank AG now owns 1,036,498 shares of the semiconductor company’s stock worth $13,180,000 after buying an additional 791,536 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.

CY stock opened at $22.24 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $22.43. The company’s fifty day simple moving average is $19.25. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.50 and a beta of 1.77.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, June 26th. Cypress Semiconductor’s payout ratio is 37.93%.

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; 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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Earnings History and Estimates for Cypress Semiconductor (NASDAQ:CY)

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