Cypress Semiconductor (CY - Free Report) closed the most recent trading day at $12.16, moving -1.22% from the previous trading session. This change was narrower than the S&P 500's 2.06% loss on the day. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 2.99%.
Coming into today, shares of the chipmaker had lost 10.08% in the past month. In that same time, the Computer and Technology sector lost 2.89%, while the S&P 500 lost 6.47%.
Investors will be hoping for strength from CY as it approaches its next earnings release, which is expected to be February 7, 2019. On that day, CY is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 17.86%. Our most recent consensus estimate is calling for quarterly revenue of $598.71 million, up 0.19% from the year-ago period.
CY's full-year Zacks Consensus Estimates are calling for earnings of $1.33 per share and revenue of $2.48 billion. These results would represent year-over-year changes of +49.44% and +6.47%, respectively.
Investors might also notice recent changes to analyst estimates for CY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.16% lower within the past month. CY is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CY currently has a Forward P/E ratio of 9.23. For comparison, its industry has an average Forward P/E of 11.92, which means CY is trading at a discount to the group.
Also, we should mention that CY has a PEG ratio of 0.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CY's industry had an average PEG ratio of 1.27 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 108, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CY in the coming trading sessions, be sure to utilize Zacks.com.