Tdam USA Inc. reduced its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 88.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,192 shares of the semiconductor company’s stock after selling 88,132 shares during the period. Tdam USA Inc.’s holdings in Cypress Semiconductor were worth $162,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CY. Principal Financial Group Inc. boosted its position in shares of Cypress Semiconductor by 10.2% during the first quarter. Principal Financial Group Inc. now owns 1,549,982 shares of the semiconductor company’s stock worth $26,287,000 after buying an additional 143,994 shares during the period. State of Alaska Department of Revenue boosted its holdings in Cypress Semiconductor by 51.4% in the second quarter. State of Alaska Department of Revenue now owns 41,490 shares of the semiconductor company’s stock valued at $645,000 after purchasing an additional 14,080 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in Cypress Semiconductor by 24.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 283,200 shares of the semiconductor company’s stock valued at $4,413,000 after purchasing an additional 55,800 shares during the period. Bank of Montreal Can boosted its holdings in Cypress Semiconductor by 105.1% in the second quarter. Bank of Montreal Can now owns 45,207 shares of the semiconductor company’s stock valued at $704,000 after purchasing an additional 23,169 shares during the period. Finally, Nwam LLC boosted its holdings in Cypress Semiconductor by 27.4% in the second quarter. Nwam LLC now owns 23,113 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 4,969 shares during the period. Institutional investors and hedge funds own 82.04% of the company’s stock.
Cypress Semiconductor stock opened at $13.61 on Wednesday. Cypress Semiconductor Co. has a 1-year low of $11.75 and a 1-year high of $18.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.43. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.07 and a beta of 2.09.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, October 25th. The semiconductor company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Cypress Semiconductor had a return on equity of 21.26% and a net margin of 2.08%. The business had revenue of $673.04 million for the quarter, compared to analysts’ expectations of $669.62 million. As a group, analysts anticipate that Cypress Semiconductor Co. will post 1.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Thursday, December 27th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, December 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 73.33%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $14.00, for a total transaction of $42,000.00. Following the sale, the executive vice president now owns 111,157 shares in the company, valued at $1,556,198. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,000 shares of company stock worth $136,290 in the last quarter. Insiders own 0.43% of the company’s stock.
CY has been the topic of a number of analyst reports. Zacks Investment Research cut Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, September 26th. BidaskClub cut Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Cowen cut their price target on Cypress Semiconductor from $21.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 23rd. ValuEngine upgraded Cypress Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, Morgan Stanley cut their price target on Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, September 24th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.46.
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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