Cypress Semiconductor Corporation (CY) is Downgraded by Morgan Stanley to Equal-Weight, Price Target at $11

Cypress Semiconductor Corporation (CY) was Downgraded by Morgan Stanley to ” Equal-Weight” and the brokerage firm has set the Price Target at $11. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Cypress Semiconductor Corporation. Company shares were Reiterated by Craig Hallum on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .

On the company’s financial health, Cypress Semiconductor Corporation reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.06. The company had revenue of $425.20 million for the quarter, compared to analysts expectations of $425.18 million. The company’s revenue was down -6.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.45 EPS.

Cypress Semiconductor Corporation opened for trading at $11.31 and hit $11.47 on the upside on Friday, eventually ending the session at $11.36, with a gain of 0.89% or 0.1 points. The heightened volatility saw the trading volume jump to 1,07,06,648 shares. Company has a market cap of $3,542 M.

In a different news, on Jul 6, 2016, H Raymond Bingham (director) sold 15,000 shares at $10.40 per share price. According to the SEC, on Mar 21, 2016, Hassane El-khoury (EVP, Programmable Systems) sold 30,000 shares at $0.00 per share price. On Mar 15, 2016, Oc Kwon (director) sold 1,164 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Cypress Semiconductor Corporation is a provider of mixed-signal programmable solutions. The Company’s offerings include PSoC 1 PSoC 3 PSoC 4 and PSoC 5LP programmable system-on-chip families. It caters to markets including industrial mobile handsets consumer computation data communications automotive and military. The Company operates in four segments: Programmable Systems Division Memory Products Division Data Communications Division and Emerging Technologies Division. The Programmable Solutions Division designs and develops solutions for end-product manufacturers. The Memory Products Division designs and manufactures SRAM products and non-volatile RAMs (random access memories). The Data Communications Division focuses on solutions for industrial handset and consumer applications. The Emerging Technologies Division consists of the Company’s subsidiaries AgigA Tech Inc. and Deca Technologies Inc.

Cypress Semiconductor Corporation

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