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

Cypress Semiconductor Corporation (CY) was Downgraded by Barclays 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. Barclays advised their investors in a research report released on Oct 18, 2016.

Many Wall Street Analysts have commented on Cypress Semiconductor Corporation. Company shares were Reiterated by Craig Hallum on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

On the company’s financial health, Cypress Semiconductor Corporation reported $0.12 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $456.38 million for the quarter, compared to analysts expectations of $455.19 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Cypress Semiconductor Corporation closed down -0.01 points or -0.09% at $10.82 with 57,07,884 shares getting traded on Friday. Post opening the session at $10.91, the shares hit an intraday low of $10.78 and an intraday high of $10.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 12, 2016, Trent Thad (EVP, Finance & CFO) sold 11,390 shares at $11.83 per share price. According to the SEC, on Oct 4, 2016, H Raymond Bingham (Executive Chairman) sold 15,000 shares at $12.10 per share price. On Sep 20, 2016, Eric Benhamou (director) sold 50,000 shares at $11.83 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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