Cypress Semiconductor Corporation (CY) Formed Double Top Chart Pattern; Buyers Could Thrive

September 17, 2017 - By Adrian Erickson

Investors sentiment decreased to 1.22 in Q4 2016. Its down 0.16, from 1.38 in 2016Q3. It dropped, as 35 investors sold Cypress Semiconductor Corporation shares while 93 reduced holdings. 44 funds opened positions while 112 raised stakes. 290.57 million shares or 1.15% more from 287.28 million shares in 2016Q3 were reported.
Art Limited Liability has invested 0.23% of its portfolio in Cypress Semiconductor Corporation (NASDAQ:CY). North Star Mgmt owns 0% invested in Cypress Semiconductor Corporation (NASDAQ:CY) for 100 shares. 410,183 were accumulated by Guggenheim Cap Ltd Liability Company. Commercial Bank Of Montreal Can owns 319,207 shares. The Connecticut-based Columbus Circle Invsts has invested 0% in Cypress Semiconductor Corporation (NASDAQ:CY). Wexford Capital Lp holds 0.03% or 24,380 shares. 125 were reported by Carroll Fin Assoc. Proshare Advsrs Ltd Liability Co holds 0.01% of its portfolio in Cypress Semiconductor Corporation (NASDAQ:CY) for 49,627 shares. Federated Investors Incorporated Pa reported 1.57M shares stake. Robertson Opportunity Cap Llc reported 377,500 shares. Moreover, Ironbridge Lp has 0.57% invested in Cypress Semiconductor Corporation (NASDAQ:CY). Alexandria Cap Limited Liability Corporation reported 17 shares. Tdam Usa holds 148,401 shares. M&T Bancorp holds 39,051 shares or 0% of its portfolio. Hourglass Ltd Com owns 801,470 shares.

Since March 20, 2017, it had 0 insider buys, and 1 sale for $89,464 activity. BENHAMOU ERIC had sold 50,000 shares worth $709,075 on Monday, March 20. KWON OC sold 6,385 shares worth $89,464.

The chart of Cypress Semiconductor Corporation (CY) shows a double top with $14.84 target or 3.00 % above today’s $14.41 share price. The 7 months chart pattern indicates low risk for the $4.79 billion company. It was reported on Sep, 17 by Finviz.com. If the $14.84 price target is reached, the company will be worth $143.70 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.77% or $0.11 on September 15, reaching $14.41. About 8.95 million shares traded or 66.05% up from the average. Cypress Semiconductor Corporation (NASDAQ:CY) has risen 39.45% since September 17, 2016 and is uptrending. It has outperformed by 22.75% the S&P500.

Investors wait Cypress Semiconductor Corporation (NASDAQ:CY) to report on October, 26. its quarterly earnings Wall Street analysts expect $0.16 EPS, up $0.09 or 128.57 % from last year’s $0.07 same quarter earnings. This translates into $53.19 million profit for CY giving the stock a 22.52 P/E. This is assuming the current $0.16 EPS is accurate. Cypress Semiconductor Corporation’s Wall Street analysts see 23.08 % EPS growth, taking into account the $0.13 EPS reproted in the previous quarter,

Cypress Semiconductor Corporation (NASDAQ:CY) Ratings Coverage

Among 19 analysts covering Cypress Semiconductor Corporation (NASDAQ:CY), 13 have Buy rating, 1 Sell and 5 Hold. Therefore 68% are positive. Cypress Semiconductor Corporation had 50 analyst reports since August 31, 2015 according to SRatingsIntel. The stock has “Buy” rating by Topeka Capital Markets on Friday, October 9. The company was maintained on Tuesday, August 29 by Mizuho. Needham maintained the shares of CY in report on Thursday, September 7 with “Buy” rating. The stock of Cypress Semiconductor Corporation (NASDAQ:CY) has “Outperform” rating given on Friday, January 29 by Oppenheimer. As per Friday, June 23, the company rating was maintained by Loop Capital Markets. The firm has “Buy” rating given on Thursday, September 1 by Roth Capital. The firm has “Neutral” rating given on Friday, January 29 by Sterne Agee CRT. The rating was upgraded by Craig Hallum to “Buy” on Tuesday, June 27. The firm earned “Equal-Weight” rating on Monday, July 18 by Morgan Stanley. Needham downgraded Cypress Semiconductor Corporation (NASDAQ:CY) on Friday, October 23 to “Buy” rating.

More notable recent Cypress Semiconductor Corporation (NASDAQ:CY) news were published by: Zacks.com which released: “Here’s Why You Should Buy Cypress Semiconductor Stock Now” on September 11, 2017, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Cypress …” published on September 11, 2017, Seekingalpha.com published: “Cypress Semiconductor’s (CY) Management Presents at Deutsche Bank 2017 …” on September 12, 2017. More interesting news about Cypress Semiconductor Corporation (NASDAQ:CY) were released by: Nasdaq.com and their article: “Is Cypress Semiconductor (CY) Stock a Solid Choice Right Now?” published on September 13, 2017 as well as Reuters.com‘s news article titled: “BRIEF-Cypress Semiconductor enters into joinder agreement” with publication date: August 18, 2017.

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