Advisory Services Network LLC lifted its position in Cypress Semiconductor Co. (NASDAQ:CY) by 1,110.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,003 shares of the semiconductor company’s stock after acquiring an additional 50,460 shares during the period. Advisory Services Network LLC’s holdings in Cypress Semiconductor were worth $797,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new position in shares of Cypress Semiconductor in the 2nd quarter worth approximately $290,000. grace capital bought a new position in shares of Cypress Semiconductor in the 2nd quarter worth approximately $156,000. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Cypress Semiconductor in the 2nd quarter worth approximately $159,000. Raymond James Trust N.A. purchased a new stake in shares of Cypress Semiconductor in the 3rd quarter worth approximately $151,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of Cypress Semiconductor in the 2nd quarter worth approximately $170,000. 82.04% of the stock is owned by hedge funds and other institutional investors.
NASDAQ CY opened at $13.53 on Friday. Cypress Semiconductor Co. has a 1-year low of $11.75 and a 1-year high of $18.87. The firm has a market cap of $4.88 billion, a PE ratio of 22.55, a PEG ratio of 1.07 and a beta of 2.09. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46.
Cypress Semiconductor (NASDAQ:CY) last announced 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 company had revenue of $673.04 million for the quarter, compared to analysts’ expectations of $669.62 million. As a group, analysts forecast that Cypress Semiconductor Co. will post 1.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, December 27th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.44 dividend on an annualized basis and a yield of 3.25%. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.
Several analysts recently weighed in on the company. MKM Partners assumed coverage on Cypress Semiconductor in a research note on Thursday, October 4th. They issued a “buy” rating and a $20.00 price target on the stock. BidaskClub downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. 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. Barclays cut their price target on Cypress Semiconductor from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, August 1st. Four investment 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 price target of $18.46.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $15.39, for a total transaction of $46,170.00. Following the sale, the executive vice president now directly owns 114,157 shares of the company’s stock, valued at $1,756,876.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 9,000 shares of company stock worth $136,290. Insiders own 0.43% of the company’s stock.
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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.
See Also: Return on Investment (ROI)
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