UBS AG Cuts Cypress Semi to Neutral (CY)
Cypress Semi (NYSE: CY) was downgraded by analysts at UBS AG (NYSE: UBS) from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $13.75 price target on the stock.
A number of other analysts have also recently weighed in on CY. Analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of Cypress Semi in a research note to investors on Friday, April 20th. Separately, analysts at Wedbush raised their price target on shares of Cypress Semi from $19.00 to $22.00 in a research note to investors on Friday, April 20th. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) raised their price target on shares of Cypress Semi from $10.00 to $11.00 in a research note to investors on Friday, April 20th. They now have an “underweight” rating on the stock.
Cypress Semi traded up 1.84% on Friday, hitting $12.781. Cypress Semi has a 1-year low of $13.67 and a 1-year high of $23.95. The company has a market cap of $1.947 billion and a price-to-earnings ratio of 23.86.
Cypress Semi last released its earnings data on Thursday, April 19th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. Analysts expect that Cypress Semi will post $0.28 EPS next quarter.
Cypress Semiconductor Corporation (Cypress) delivers high-performance, mixed-signal and programmable solutions.