Cypress Semiconductor Co. (NASDAQ:CY) has been assigned a consensus rating of “Hold” from the seventeen analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.21.
A number of research firms recently issued reports on CY. ValuEngine downgraded shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $15.00 price target on shares of Cypress Semiconductor and gave the company a “buy” rating in a research note on Friday, October 26th. BidaskClub downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Craig Hallum decreased their price target on shares of Cypress Semiconductor from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, SunTrust Banks decreased their price target on shares of Cypress Semiconductor to $13.50 and set a “hold” rating on the stock in a research note on Friday, October 26th.
Shares of CY stock traded down $0.14 during mid-day trading on Monday, hitting $13.51. The company had a trading volume of 5,154,424 shares, compared to its average volume of 6,728,771. Cypress Semiconductor has a 52-week low of $11.75 and a 52-week high of $18.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.43. The company has a market capitalization of $4.68 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.02 and a beta of 2.09.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Thursday, September 27th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, September 26th. Cypress Semiconductor’s payout ratio is 73.33%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $16.04, for a total value of $48,120.00. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 9,000 shares of company stock worth $136,290. Insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CY. Raymond James Trust N.A. purchased a new stake in shares of Cypress Semiconductor in the third quarter valued at $151,000. grace capital purchased a new stake in shares of Cypress Semiconductor in the second quarter valued at $156,000. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Cypress Semiconductor in the second quarter valued at $159,000. GWM Advisors LLC purchased a new stake in shares of Cypress Semiconductor in the third quarter valued at $160,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of Cypress Semiconductor in the second quarter valued at $170,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.
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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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