Cypress Semiconductor Co. (NASDAQ:CY) has been given an average recommendation of “Buy” by the seventeen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $19.05.
CY has been the topic of several research reports. Mizuho reaffirmed a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Cypress Semiconductor in a report on Friday, January 12th. Loop Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor in a report on Monday, November 20th. Craig Hallum reaffirmed a “buy” rating and set a $21.00 price target on shares of Cypress Semiconductor in a report on Tuesday, December 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.00 price target on shares of Cypress Semiconductor in a report on Monday, January 29th. Finally, Zacks Investment Research raised shares of Cypress Semiconductor from a “strong sell” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, January 31st.
Cypress Semiconductor (CY) traded up $0.36 during mid-day trading on Wednesday, reaching $17.61. 5,670,000 shares of the company’s stock traded hands, compared to its average volume of 6,590,000. The company has a market cap of $5,880.00, a price-to-earnings ratio of -56.81, a P/E/G ratio of 1.11 and a beta of 2.17. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 0.53. Cypress Semiconductor has a 52-week low of $12.46 and a 52-week high of $17.90.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.44 annualized dividend and a yield of 2.50%. Cypress Semiconductor’s dividend payout ratio is presently -141.94%.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.25, for a total transaction of $48,750.00. Following the sale, the executive vice president now directly owns 91,509 shares in the company, valued at approximately $1,487,021.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 9,000 shares of company stock worth $146,520. 0.69% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CY. San Francisco Sentry Investment Group CA lifted its position in shares of Cypress Semiconductor by 1,061.4% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock worth $100,000 after purchasing an additional 6,082 shares during the period. Thompson Davis & CO. Inc. lifted its position in shares of Cypress Semiconductor by 750.0% in the 4th quarter. Thompson Davis & CO. Inc. now owns 8,500 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 7,500 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Cypress Semiconductor in the 4th quarter worth approximately $145,000. Wolverine Asset Management LLC lifted its position in shares of Cypress Semiconductor by 61.3% in the 4th quarter. Wolverine Asset Management LLC now owns 10,724 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 4,075 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Cypress Semiconductor in the 4th quarter worth approximately $178,000. Hedge funds and other institutional investors own 91.22% of the company’s stock.
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.
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