Cypress Semiconductor (CY) hosted its analyst day on March 29th and has received a slew of analyst price target reiterations in return. Loop Capital reiterated its $16 price target; Roth Capital, Pacific Crest, and Craig-Hallum reiterated their $17 price targets; Needham reiterated its $18 price target. Shares of CY closed on March 29th at $14.24.
According to Tipranks, the average price target on CY is currently $15.57, with six buy ratings, 2 hold ratings, and zero sell ratings. The price target ranges give a pretty big breath of potential returns from current levels, ranging from around 9% to 26%. CY is certainly in a scorching hot sector right now, between the iPhone upgrade cycle and microchips flying off the warehouse shelves to fill roles into IoT and automotive industries. CY has a had an excellent 2017 so far, performing in line with most of is peers.
But the key question remains, how much scope for future growth does CY have beyond current levels and the price targets laid out above?
Previously Posted on Investopedia