Revenue Update on Cypress Semiconductor Corporation(NASDAQ:CY)

Cypress Semiconductor Corporation(NASDAQ:CY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $456.38M. Analysts estimated a revenue of $455.15M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.12.

In a different note, On Jul 18, 2016, Morgan Stanley said it Downgrades its rating on Cypress Semiconductor Corporation. The shares have been rated ‘Equal-weight’ by the firm.

Cypress Semiconductor Corporation (CY) made into the market gainers list on Thursdays trading session with the shares advancing 1.85% or 0.21 points. Due to strong positive momentum, the stock ended at $11.56, which is also near the day’s high of $11.6156. The stock began the session at $11.34 and the volume stood at 46,18,222 shares. The 52-week high of the shares is $12.36 and the 52 week low is $6.3. The company has a current market capitalization of $3,604 M and it has 31,17,60,280 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, H Raymond Bingham (director) sold 15,000 shares at $10.40 per share price.Also, 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.

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