Cypress Semiconductor Q4 Results Narrowly Beat Views

Shares of Cypress Semiconductor (CY) touched a new high since June 2015 on Friday after the company reported Q4 results which were slightly better-than-expected and issued in line guidance for Q1.

For Q4 ended Jan. 1, adjusted EPS was $0.15 per share, up from $0.13 per share a year earlier and a penny above the consensus of analysts polled by Capital IQ.

Revenues rose to $530.2 million from $450.1 million in the year-ago quarter and narrowly topped the $525.7 million average estimate.

For Q1, Cypress expects adjusted EPS of $0.09 to $0.13 per share on revenues of $495 million to $525 million, straddling the consensus for $0.11 on EPS and $510.6 million on revenues.

CY was up over 7% in recent trade with a new 52-week range of $6.30 to $12.97.

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