Asset Management One Co. Ltd. cut its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,380 shares of the semiconductor company’s stock after selling 11,968 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cypress Semiconductor were worth $1,789,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in Cypress Semiconductor by 310.3% during the second quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock worth $168,875,000 after buying an additional 9,356,825 shares in the last quarter. JPMorgan Chase & Co. grew its position in Cypress Semiconductor by 247.2% during the second quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock worth $108,483,000 after buying an additional 5,658,750 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Cypress Semiconductor during the third quarter worth about $53,009,000. Ameriprise Financial Inc. grew its position in Cypress Semiconductor by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock worth $184,179,000 after buying an additional 3,116,871 shares in the last quarter. Finally, TCW Group Inc. grew its position in Cypress Semiconductor by 13.8% during the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock worth $202,214,000 after buying an additional 1,628,930 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $15.51, for a total value of $46,530.00. Following the completion of the sale, the senior vice president now owns 68,445 shares of the company’s stock, valued at approximately $1,061,581.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Trent Thad sold 74,818 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.77, for a total value of $1,179,879.86. Following the completion of the sale, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. In the last three months, insiders sold 103,604 shares of company stock valued at $1,666,027. 0.69% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on CY shares. BidaskClub upgraded Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 1st. KeyCorp restated an “overweight” rating on shares of Cypress Semiconductor in a research report on Thursday, September 14th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a research report on Monday, October 9th. Bank of America restated a “buy” rating on shares of Cypress Semiconductor in a research report on Sunday, October 1st. Finally, Zacks Investment Research cut Cypress Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.25.
Shares of Cypress Semiconductor Co. (CY) traded up $0.20 during mid-day trading on Friday, reaching $17.07. The company’s stock had a trading volume of 4,649,139 shares, compared to its average volume of 5,074,311. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35. Cypress Semiconductor Co. has a 52-week low of $10.99 and a 52-week high of $17.42. The company has a market capitalization of $5,700.00, a price-to-earnings ratio of -42.68, a P/E/G ratio of 1.91 and a beta of 2.01.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Cypress Semiconductor had a return on equity of 2.40% and a net margin of 2.64%. The firm had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. equities analysts expect that Cypress Semiconductor Co. will post 0.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -110.00%.
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Cypress Semiconductor Company Profile
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
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