Stock rose over 14% in July
Semiconductor (SMH) firm Cypress Semiconductor (CY) rose 14.3% in July to close at $17.81. At the end of July, Cypress Semiconductor was trading 42.0% above its 52-week low of $12.50 and 6.6% below its 52-week high of $18.87.
Cypress Semiconductor stock has returned 25.0% in the trailing 12 months and 17.0% in 2018 after rising more than 37.0% in fiscal 2017.
Cypress Semiconductor (CY) announced its second-quarter results on July 27 and reported revenues of $624.1 million, an increase of 5.0% YoY (year-over-year). The company’s non-GAAP EPS rose 57.0% YoY to $0.33 from $0.21. Its net income rose 67.0% YoY to $125.0 million in the second quarter.
In the third quarter, Cypress Semiconductor expects its revenues to reach $655.0 million–$685.0 million with EPS of $0.36–$0.40. Analysts expect the company to post revenues of $670.0 million with EPS of $0.38 in the third quarter.
Of the 15 analysts tracking Cypress Semiconductor, nine gave a “buy” recommendation, five gave a “hold” recommendation, and one gave a “sell” recommendation. The average target price for Cypress Semiconductor stock is $20.61 with a median target of $21.00, which indicates that its stock is trading at a discount of 18.0% to median price targets.