SunTrust Robinson Believes Cypress Semicon (NASDAQ: CY) Won’t Stop Here

By Carrie Williams

SunTrust Robinson analyst William Stein reiterated a Buy rating on Cypress Semicon (NASDAQ: CY) yesterday and set a price target of $19. The company’s shares opened today at $15.99, close to its 52-week high of $16.11.

According to, Stein is a 4-star analyst with an average return of 10.6% and a 68.4% success rate. Stein covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Texas Instruments, and Maxim Integrated.

Currently, the analyst consensus on Cypress Semicon is Strong Buy and the average price target is $18.29, representing a 14.4% upside.

In a report issued on October 1, Mizuho Securities also reiterated a Buy rating on the stock with a $17 price target.

Based on Cypress Semicon’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $594 million and GAAP net loss of $22.9 million. In comparison, last year the company earned revenue of $524 million and had a net profit of $9.41 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CY in relation to earlier this year.

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Cypress Semiconductor Corp. designs, develops, manufactures and markets a broad range of high-performance solutions for embedded systems, from automotive, industrial and networking platforms to highly interactive consumer devices. Its programmable systems-on-chip, general-purpose microcontrollers, analog ICs, wireless and USB-C based connectivity solutions and memories help engineers design differentiated products. The company operates through the following segments: Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). The MCD segment focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions. The portfolio includes Traveo automotive MCUs, PSoC programmable system-on-chip MCUs, ARM Cortex-M4, -M3, -M0+ MCUs and R4 CPUs, analog PMIC Power Management ICs, CapSense capacitive-sensing controllers, TrueTouch touchscreen and fingerprint reader products, Wi-Fi, Bluetooth, Bluetooth Low Energy and ZigBee radios and WICED development platform for the Internet of Things, and USB controllers, including solutions for the USB-C and USB Power Delivery standards. This segment also includes intellectual property foundry business. The MPD segment focuses on parallel and serial NOR flash memories, NAND flash memories, static random access memory, F-RAM ferroelectric memory devices and other specialty memories. Cypress Semiconductor was founded by Thurman John Rodgers in December 1982 and is headquartered in San Jose, CA.