Brokerages forecast that Cypress Semiconductor Co. (NASDAQ:CY) will report sales of $580.38 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Cypress Semiconductor’s earnings. The lowest sales estimate is $579.60 million and the highest is $582.63 million. Cypress Semiconductor reported sales of $531.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The firm is expected to issue its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Cypress Semiconductor will report full year sales of $580.38 million for the current year, with estimates ranging from $2.41 billion to $2.56 billion. For the next financial year, analysts expect that the business will report sales of $2.59 billion per share, with estimates ranging from $2.47 billion to $2.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. The business had revenue of $597.54 million for the quarter, compared to analyst estimates of $593.15 million. During the same quarter last year, the firm earned $0.15 EPS. Cypress Semiconductor’s quarterly revenue was up 12.7% compared to the same quarter last year.
Cypress Semiconductor (CY) opened at $16.15 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. Cypress Semiconductor has a one year low of $12.46 and a one year high of $17.90. The firm has a market cap of $5,390.00, a P/E ratio of -57.68, a price-to-earnings-growth ratio of 1.04 and a beta of 2.17.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $15.51, for a total value of $46,530.00. Following the sale, the senior vice president now owns 68,445 shares of the company’s stock, valued at $1,061,581.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sam Geha sold 14,517 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $17.34, for a total transaction of $251,724.78. Following the completion of the sale, the senior vice president now directly owns 41,204 shares in the company, valued at approximately $714,477.36. The disclosure for this sale can be found here. In the last three months, insiders sold 20,517 shares of company stock worth $349,495. 0.69% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in CY. Villere ST Denis J & Co. LLC acquired a new position in Cypress Semiconductor during the fourth quarter worth $69,678,000. Westfield Capital Management Co. LP acquired a new position in Cypress Semiconductor during the third quarter worth $53,009,000. Ameriprise Financial Inc. increased its holdings in Cypress Semiconductor by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock worth $184,179,000 after buying an additional 3,116,871 shares during the last quarter. TCW Group Inc. increased its holdings in Cypress Semiconductor by 13.8% during the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock worth $202,214,000 after buying an additional 1,628,930 shares during the last quarter. Finally, Garelick Capital Partners LP acquired a new position in Cypress Semiconductor during the fourth quarter worth $19,356,000. 98.12% of the stock is currently owned by institutional investors and hedge funds.
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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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