This stock has been cut in half in less than a year. Cypress Semiconductor Corp. (NASDAQ: CY) produces high-performance, high-quality solutions for some of the most advanced embedded systems, from automotive, industrial and networking platforms to highly interactive consumer and mobile devices.
The broad, differentiated product portfolio that includes NOR flash memories, F-RAM and SRAM, Traveo microcontrollers, the industry’s only programmable system-on-chip (PSoC) solutions, analog and power management integrated circuits (PMICs), CapSense capacitive touch-sensing controllers and Wireless BLE Bluetooth low-energy and USB connectivity solutions.
The company recently announced an expansion of its automotive portfolio that will help enable manufacturers to bring high-tech automotive systems historically available only in luxury models to mainstream vehicles. Leveraging a wide range of differentiated products that includes microcontrollers (MCUs), PMICs, memories and touch-sensing solutions, the portfolio enables value-added systems for Cypress’s top tier automotive customers.
The company beat first-quarter earnings estimates and raised its forward guidance. In addition the chief executive officer is stepping down, and the company will spend over half a billion for Broadcom’s Internet of Things business. Cypress also repurchased $182.5 million in common stock, under its $450 million repurchase authorization approved two quarters ago.
Cypress shareholders are paid a big 4.87% dividend. The Wedbush price target for the stock is $11, and the posted consensus price target is $10.75. The stock closed Friday at $9.03 per share.
This top company has been hiring a ton of people, and its stock is down 31% since last fall. Qlik Technologies Inc. (NASDAQ: QLIK) QlikView Business Discovery platform lets people quickly bring data sources together to create dynamic visual applications that can be navigated and searched intuitively. QlikView uses Natural Analytics to reflect the way human curiosity searches and processes information, while delivering the enterprise manageability, governance and service offerings organizations require.
The company’s new Qlik Sense product has helped push the company in the business intelligence and analytic, market, and it posted very solid first-quarter numbers. Qlik reported strong year-over-year revenue growth of 15%, which was 18% in constant currency, while adjusted earnings per share were unchanged from the year-ago period. The company edged up its full-year 2016 guidance on results that exceeded its expectations. We recently covered the plethora of analysts raising guidance and estimates on the company.
Wedbush raised its price target on the stock to $35 from $28, and the consensus price objective is set at $34.61. The stock closed Friday at $30.79 per share.
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Solid research and follow-up is a hallmark of the work we see from Wedbush. All three of these stocks make good sense for aggressive growth stock portfolios.