Why Cypress Semiconductor (CY) Stock Is Up Today

NEW YORK (TheStreet) -- Cypress Semiconductor (CY) was gaining 0.6% to $10.37 Thursday after beating analysts' estimates for earnings in the second quarter.

For the second quarter Cypress reported earnings of 16 cents a share, beating analysts' estimates of 12 cents a share by 4 cents. Revenue fell -5.1% from the year-ago quarter to $183.6 million, while analysts surveyed by Thomson Reuters expected revenue of $183.82 million for the quarter.

Looking forward to the third quarter, Cypress expects earnings of 15 cents to 17 cents a share, and revenue of $185 million to $191 million. Analysts expects earnings of 17 cents a share and revenue of $197.6 million for the upcoming quarter.

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TheStreet Ratings team rates CYPRESS SEMICONDUCTOR CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CYPRESS SEMICONDUCTOR CORP (CY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."

CY ChartCY data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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