Stephens Inc. AR lessened its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 12.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,358 shares of the semiconductor company’s stock after selling 12,480 shares during the period. Stephens Inc. AR’s holdings in Cypress Semiconductor were worth $1,377,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CY. Canada Pension Plan Investment Board grew its stake in Cypress Semiconductor by 3,828.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 286,800 shares of the semiconductor company’s stock worth $4,468,000 after buying an additional 279,500 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Cypress Semiconductor during the 2nd quarter worth approximately $1,749,000. Legal & General Group Plc grew its stake in Cypress Semiconductor by 32.4% during the 1st quarter. Legal & General Group Plc now owns 445,744 shares of the semiconductor company’s stock worth $7,560,000 after buying an additional 109,079 shares during the last quarter. Oakbrook Investments LLC grew its stake in Cypress Semiconductor by 28.5% during the 2nd quarter. Oakbrook Investments LLC now owns 36,850 shares of the semiconductor company’s stock worth $574,000 after buying an additional 8,180 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new position in Cypress Semiconductor during the 1st quarter worth approximately $228,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Monday, July 16th. The stock was sold at an average price of $16.50, for a total transaction of $49,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 11,565 shares of company stock valued at $193,534. 0.43% of the stock is currently owned by insiders.
Several brokerages have weighed in on CY. Cowen began coverage on Cypress Semiconductor in a research note on Tuesday, May 22nd. They issued an “outperform” rating and a $21.00 target price on the stock. BidaskClub downgraded Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded Cypress Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Craig Hallum lifted their target price on Cypress Semiconductor from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cypress Semiconductor has an average rating of “Buy” and an average price target of $19.96.
CY opened at $16.26 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.11 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 0.99 and a beta of 1.98. Cypress Semiconductor Co. has a 12 month low of $13.40 and a 12 month high of $18.87.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. The business had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $618.49 million. Cypress Semiconductor had a return on equity of 18.51% and a net margin of 0.49%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. research analysts forecast that Cypress Semiconductor Co. will post 1.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Thursday, September 27th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 26th. This represents a $0.44 annualized dividend and a yield of 2.71%. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.
Cypress Semiconductor Company Profile
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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