Cypress Semiconductor (Nasdaq: CY) reported earnings on Oct. 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Cypress Semiconductor met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share shrank significantly.

Margins shrank across the board.

Revenue details
Cypress Semiconductor logged revenue of $203.0 million. The 18 analysts polled by S&P Capital IQ expected net sales of $204.3 million on the same basis. GAAP reported sales were 23% lower than the prior-year quarter's $264.7 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.20. The 16 earnings estimates compiled by S&P Capital IQ forecast $0.20 per share. GAAP EPS of $0.09 for Q3 were 59% lower than the prior-year quarter's $0.22 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 54.2%, 210 basis points worse than the prior-year quarter. Operating margin was 7.4%, 930 basis points worse than the prior-year quarter. Net margin was 7.1%, 790 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $202.2 million. On the bottom line, the average EPS estimate is $0.18.

Next year's average estimate for revenue is $796.3 million. The average EPS estimate is $0.67.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 995 members out of 1,040 rating the stock outperform, and 45 members rating it underperform. Among 190 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 178 give Cypress Semiconductor a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cypress Semiconductor is outperform, with an average price target of $13.68.

Is Cypress Semiconductor the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Cypress Semiconductor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.