Cypress Semiconductor Corporati (NASDAQ:CY):
Cypress Board of Directors Sends Letter to Stockholders.
The company is so far trading down since yesterday’s close of $14.23.
Additionally Cypress Semiconductor Corporati recently declared a dividend that will be paid on Thu Jul 20, 2017. The dividend will be $0.110 per share for the quarter which comes to $0.44 on an annualized basis. This dividend amount will represent a yeild of $3.09. The ex-dividend date will be on 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..
Shares of the company are trading at $13.59 which is just under the 50 day moving average of $13.70 and which is slightly above the 200 day moving average of $12.79. The 50 day moving average went down by -0.80% whereas the 200 day average was up by +6.22%.
As of the latest earnings report the EPS was $-1.96 and is estimated to be $0.71 for the current year with 329,438,000 shares now outstanding. Next quarter’s EPS is expected be $0.21 and the next full year EPS is projected to be $1.02.
Investors are feeling more bullish on shares of Cypress Semiconductor Corporati recently as indicated by the change in short interest. The stock had a fall in short interest between May 15, 2017 and April 28, 2017 of -11.60%. Short interest decreased 4,186,683 over that period. The days to cover increased to 5.4 and the short interest percentage is 0.10% as of April 28.
Several ratings analysts have released opinions on CY. On December 6 analysts at Loop Capital starting coverage on CY giving it an initial rating of “Buy”. Barclays both downgraded the stock and lowered the price target on October 18 cutting the price target from $15.00 to $11.00 and moving the rating from “Overweight” to “Equal-Weight”.
On October 18 the stock rating was downgraded from “Overweight” to “Equal-Weight” and a price target of $11.00 was set by Barclays. Roth Capital starting coverage on the stock with a rating of “Buy” and setting a price target of $13.00.
On July 29 Pacific Crest left the company rating at “Overweight” and moved up the price target from $13.00 to $14.00. On July 18 the company was downgraded to “Equal-weight” from “Overweight” with a current price target of $11.00 in a report issued by Morgan Stanley.