Stock analysts at Cowen cut their rating on shares of Cypress Semiconductor Corporation (NASDAQ:CY) from Outperform to a new rating of Market Perform in their opinion released on November 15. Mizuho analysts have downgraded their rating of CY shares from Buy to Neutral in a separate flash note to investors on June 04. Analysts at Morgan Stanley issued an upgrade for the stock to Equal-Weight from previous rating of Underweight, in a research note that dated back to May 30.
For the period that ended November 15, 2019, the short interest in Cypress Semiconductor Corporation (NASDAQ:CY) stock is on the down. The 0.43% decline could be an indication that investors and traders expect a growth in the share price, often as a result of an advancement in the business’ fundamentals. The average brokerage opinion at 3 suggests acquiring these shares. Between October 31 and November 15, the total count of shorted shares totalled 37.79 million. That number was 162,352 less shares compared with the total of 37.95 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move up. The average daily volume for CY at the November 15th settlement retreated to 3,150,688, versus 3,368,070 at the October 31st report. That led days to cover to move at 11.992932, a 6.44% increase compared to the 11.267087 days to cover recorded at the prior short interest data release.
Let’s take a glimpse at some insider activity at Cypress Semiconductor Corporation (NASDAQ:CY) and observe the pattern. The earliest insider trade happened on 11/25/2019. El-Khoury Hassane parted with a total of 25 thousand shares of the firm at average share price of $23.45. The total amount for the sale was set at $586.25 thousand. On completing this exchange, the President & CEO account balance was 364.85 thousand shares. The stock grew 0.13 percent from that insider sale. On 11/11/2019, Thad Trent, EVP, Finance & CFO, did a sale of 21 thousand shares at a price of $23.31 per share. This got rid of 489.58 thousand shares from the insider’s fortune and the stock experienced a 0.73 percent rally in price since the news became public. This exchange saw 255.62 thousand shares get out from the EVP, Finance & CFO account. On 11/11/2019, President & CEO El-Khoury Hassane recorded a sale transaction valued at $1.17 million. The sale at $23.31 a share has eliminated 50 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 0.73 percent increase since the transaction reporting date. The company insider is left with 389.85 thousand shares remaining in the account. Thad Trent, who works as EVP, Finance & CFO at the company, performed a sale of 50 thousand shares in a transaction worth $1.16 million. The disposal recorded on 10/28/2019 was priced at $23.27 per share. The stock price soared 0.9 percent since the transaction. Thad Trent currently holds a stake of 276.62 thousand in CY stock which is worth $6.5 million after the insider selling.
Cypress Semiconductor Corporation (CY) is most likely going to rise 1.28 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $24-month high price target. This represents a whopping 2.21 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $23.85, which means a return possibility of 1.58 percent in comparison with the closing price of the stock of $23.48 on December 02. The lowest price set for the stock is $23.85 — just above 1.58 percent from CY share price now.
The stock is lingering around the initial support level of $23.42. After this, the following support is at the zone of $23.35. Up until the time the CY stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 58.06 on the daily chart, and this may be a cause for concern. In case the price goes below $23.35 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $23.55 level may cause a pull-back move approaching $23.61 mark.
On December 02, 2019, Cypress Semiconductor Corporation (NASDAQ:CY) shares gained 0.13% or 0.03 points to close at $23.48 with a thin trading volume of 3.633 million shares. It opened the trading session at $23.44, the shares rose to $23.55 and dropped to $23.42, the range by which the price of stock traded the whole day. The company now has a market cap of $8.68 billion and currently has 369.64 million outstanding shares. Cypress Semiconductor Corporation (CY) stock has accumulated 0.9 percent of market value in 21 trading days.
CY stock’s trailing 3-year beta is 1.79, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.77 share in the trailing 52 weeks. The stock’s value surged 84.59 percent year to date (YTD) compared to a rise of 69.65 percent in 52 week’s period. The firm’s shares are still trading -0.17 percent below its 1-year high of $23.52 and 97.98 percent up from 52-week low of $11.86. The average consensus ranking on the company is 3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a hold.
Cypress Semiconductor Corporation (CY) shares are trading at a P/E ratio of 30.5 times earnings posted in the trailing 12 months. The industry CY deals with has an average P/E of 23.4. Its P/B ratio is standing at 4.1X compared to the 4.5 industry average. It is additionally sporting a 4 on the Price-to-Sales ratio, compared to the industry’s P/S average of 4.7. Cypress Semiconductor Corporation has a 38% gross profit margin, with its operating margin around 3.9%. Alongside this, the company’s net profit margin currently stands at 12.7%.
Past records have indicated that shares in Cypress Semiconductor Corporation rose on 24 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.