Cypress Semiconductor Corporati (NASDAQ:CY):
Cypress Executive Chairman Ray Bingham Steps Down from Board.
The company is down by -4.50 percent from yesterday’s close.
The company recently announced a dividend for shareholders which will be paid on Thursday the 20th of July 2017. The dividend payment will be $0.110 per share for the quarter or $0.44 on an annualized basis. This dividend amount will represent a yeild of $3.09. The ex-dividend date is Tuesday the 28th of March 2017.
Cypress Semiconductor Corporation, launched on September 26, 1986, manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Business’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). Its programmable systems-on-chip, general-purpose microcontrollers, analog integrated circuits (ICs), wireless and Universal Serial Bus (USB)-C based connectivity solutions and memories help engineers design differentiated products..
The stock last traded at $13.59 just a bit lower than the 50 day moving average which is $13.70 and marginally over the 200 day moving average of $12.79. The 50 day moving average went down by -0.80% whereas the 200 day moving average was up $0.80 or +6.22%.
As of the last earnings report the EPS was $-1.96 and is expected to be $0.71 for the current year with 329,438,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.21 and the next full year EPS is anticipated to be $1.02.
Investors are feeling more bullish on the company recently if you take note of the decrease in short interest. The company had a fall in short interest of -11.60% as of April 28, 2017 from the last reporting period. Short shares fell 4,186,683 over that period. With short interest at 31,897,734 and short average daily volume at 5,892,673, the short-interest ratio is 5.4 and the percentage of shorted shares was 0.10% on April 28.
Several analysts have issued ratings on Cypress Semiconductor Corporati of late. Loop Capital started coverage giving it an initial rating of “Buy”. On October 18 the company was downgraded to “Equal-Weight” from “Overweight” with a current price target of $11.00 in an announcement from Barclays.
Barclays both downgraded the stock and lowered the price target on October 18 changing the price target from $15.00 to $11.00 and cutting the rating from “Overweight” to “Equal-Weight”. Equity analyst Roth Capital issued its first research report on the stock setting a rating of “Buy” and establishing a price target of $13.00.
July 29 investment analysts at Pacific Crest kept the stock rating at “Overweight” but raised the price target to $14.00 from $13.00. On July 18 the stock rating was downgraded to “Equal-weight” from “Overweight” with a current price target of $11.00 in a report from Morgan Stanley.