Brokerages Expect Cypress Semiconductor Co. (NASDAQ:CY) Will Announce Earnings of $0.28 Per Share

Brokerages forecast that Cypress Semiconductor Co. (NASDAQ:CY) will post $0.28 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Cypress Semiconductor’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.27. Cypress Semiconductor posted earnings of $0.35 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 20%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, January 30th.

On average, analysts expect that Cypress Semiconductor will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.11. For the next year, analysts forecast that the company will post earnings of $1.23 per share, with EPS estimates ranging from $1.20 to $1.27. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Cypress Semiconductor.

Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data on Thursday, October 24th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $574.52 million during the quarter, compared to analysts’ expectations of $570.66 million. Cypress Semiconductor had a return on equity of 17.34% and a net margin of 12.74%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS.

Several research firms recently weighed in on CY. Mizuho restated a “hold” rating and set a $23.85 target price on shares of Cypress Semiconductor in a research note on Friday, October 25th. Cowen cut Cypress Semiconductor from an “outperform” rating to a “market perform” rating and set a $23.85 target price for the company. in a research note on Thursday, November 14th. BidaskClub cut Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 21st. Finally, ValuEngine cut Cypress Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Cypress Semiconductor presently has a consensus rating of “Hold” and an average price target of $21.81.

CY stock traded up $0.05 during trading on Friday, hitting $23.46. 6,828,145 shares of the company’s stock were exchanged, compared to its average volume of 4,605,849. The business has a 50-day moving average price of $23.42 and a two-hundred day moving average price of $23.19. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 30.47 and a beta of 1.84. Cypress Semiconductor has a 52-week low of $13.37 and a 52-week high of $23.55. The company has a current ratio of 1.71, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Tuesday, December 24th. Cypress Semiconductor’s dividend payout ratio is currently 37.93%.

In other Cypress Semiconductor news, CFO Trent Thad sold 21,003 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.31, for a total value of $489,579.93. Following the completion of the sale, the chief financial officer now owns 255,617 shares in the company, valued at $5,958,432.27. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hassane El-Khoury sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.45, for a total value of $586,250.00. Following the completion of the sale, the chief executive officer now owns 364,851 shares of the company’s stock, valued at approximately $8,555,755.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,003 shares of company stock valued at $3,404,830. 0.55% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pentwater Capital Management LP purchased a new stake in Cypress Semiconductor in the second quarter valued at approximately $227,293,000. Magnetar Financial LLC acquired a new position in shares of Cypress Semiconductor in the second quarter valued at approximately $189,280,000. Robecosam AG increased its holdings in shares of Cypress Semiconductor by 8.9% in the third quarter. Robecosam AG now owns 3,600,000 shares of the semiconductor company’s stock valued at $83,556,000 after purchasing an additional 295,000 shares during the period. ARP Americas LP increased its holdings in shares of Cypress Semiconductor by 32.8% in the third quarter. ARP Americas LP now owns 2,860,262 shares of the semiconductor company’s stock valued at $66,759,000 after purchasing an additional 706,028 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Cypress Semiconductor by 32.2% in the second quarter. Nuveen Asset Management LLC now owns 2,097,224 shares of the semiconductor company’s stock valued at $46,642,000 after purchasing an additional 510,635 shares during the period. Institutional investors own 78.65% 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.

Further Reading: How do candlesticks reflect price movement?

Get a free copy of the Zacks research report on Cypress Semiconductor (CY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.