Categories Earnings, Technology, U.S. Markets News
Cypress Semiconductor soars after beating Q4 earnings and revenue projections
Cypress Semiconductor Corp. (CY) Q4 earnings and revenue surpassed analysts’ estimates. The company reported EPS of $0.35 on revenue of $604.5 million. Analysts estimated the embedded solutions provider to post earnings of 33 cents per share on revenue of $598.9 million. Shares of Cypress Semiconductor jumped about 5% during the extended hours.
Microcontroller and Connectivity Division’s revenue was inched down 0.4%, while the Memory Products Division revenue grew 3.5% compared to the year-ago quarter.
For the first quarter of 2019, Cypress expects revenue to be in the range of $520 million to $550 million. GAAP EPS is expected to come in the range of $0.00 to $0.04 and non-GAAP EPS is touted to be in the range of $0.22 to $0.26.
“While the current demand environment remains somewhat uncertain, we are focused on what we can control and we will continue disciplined investments that will drive many of today’s megatrends in the automotive, industrial and IoT markets,” said CEO Hassane El-Khoury.
Cypress Semiconductor’s tier-1 customer list include Amazon (AMZN), Apple (AAPL), Roku (ROKU), Nintendo in the consumer end market; Ford (F), Bosch, Toyota and BMW in the automotive; Siemens, Boston Scientific (BSX) and Mitsubishi in the industrial; and Microsoft (MSFT), Cisco (CSCO), Juniper Networks (JNPR), Lenovo and Dell in the enterprise end market. Two distributors accounted for 17% and 14% of revenue in Q4 2018.
Also read: Qualcomm (QCOM) Q1 2019 earnings conference call transcript
Cypress paid a quarterly cash dividend of 11 cents per share on January 17, 2019, to shareholders of record as of December 27, 2018.
Semiconductor stocks have been facing the heat after the semiconductor giant Nvidia (NVDA) lowered its Q4 revenue outlook on Monday. However, after Advanced Micro Devices (AMD) reported stronger results, the Philadelphia Semiconductor Index rose about 3% on Wednesday and was flat today.
Cypress stock, which closed down 1.35% at $13.87 on Thursday, had gained 9% in the last 30 days and 1% in the last three months period.
We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
Comments