Cypress Semiconductor Co. (NASDAQ:CY) Expected to Announce Earnings of $0.24 Per Share

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Wall Street analysts expect Cypress Semiconductor Co. (NASDAQ:CY) to announce $0.24 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Cypress Semiconductor’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.24. Cypress Semiconductor reported earnings per share of $0.33 during the same quarter last year, which would indicate a negative year over year growth rate of 27.3%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, July 25th.

According to Zacks, analysts expect that Cypress Semiconductor will report full year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.12. For the next financial year, analysts expect that the company will post earnings of $1.22 per share, with EPS estimates ranging from $1.15 to $1.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover 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 analysts have weighed in on CY shares. Barclays reiterated a “hold” rating and set a $23.00 target price on shares of Cypress Semiconductor in a research note on Thursday, June 6th. MKM Partners reiterated a “neutral” rating and set a $23.85 target price (up previously from $20.00) on shares of Cypress Semiconductor in a research note on Tuesday, June 4th. SunTrust Banks boosted their target price on shares of Mirati Therapeutics to $120.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Susquehanna Bancshares lowered shares of Cypress Semiconductor from a “positive” rating to a “neutral” rating in a research note on Monday, June 3rd. Finally, Piper Jaffray Companies lowered shares of Cypress Semiconductor from an “overweight” rating to a “neutral” rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.34.

CY stock opened at $22.41 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 $22.51. The company’s fifty day simple moving average is $22.26. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.88.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Thursday, June 27th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, June 26th. Cypress Semiconductor’s payout ratio is currently 37.93%.

In other Cypress Semiconductor news, 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 value of $443,200.00. Following the completion of the sale, the chief executive officer now directly owns 521,745 shares of the company’s stock, valued at approximately $11,561,869.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oc Kwon sold 3,710 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.13, for a total transaction of $63,552.30. Following the completion of the sale, the director now directly owns 73,113 shares of the company’s stock, valued at $1,252,425.69. The disclosure for this sale can be found here. Insiders sold 62,710 shares of company stock valued at $1,333,052 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Investment Advisors Ltd. acquired a new stake in Cypress Semiconductor during the 1st quarter worth about $30,000. Quadrant Capital Group LLC raised its holdings in Cypress Semiconductor by 101.0% during the 1st quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,102 shares during the period. Somerset Trust Co raised its holdings in Cypress Semiconductor by 151.6% during the 1st quarter. Somerset Trust Co now owns 2,841 shares of the semiconductor company’s stock worth $42,000 after buying an additional 1,712 shares during the period. Investors Research Corp acquired a new stake in Cypress Semiconductor during the 1st quarter worth about $57,000. Finally, Meeder Asset Management Inc. raised its holdings in Cypress Semiconductor by 208.2% during the 1st quarter. Meeder Asset Management Inc. now owns 4,068 shares of the semiconductor company’s stock worth $61,000 after buying an additional 2,748 shares during the period. 81.17% of the stock is owned by institutional investors.

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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