LPL Financial LLC lowered its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,472 shares of the semiconductor company’s stock after selling 32,435 shares during the period. LPL Financial LLC owned approximately 0.05% of Cypress Semiconductor worth $3,180,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Cypress Semiconductor in the first quarter worth $206,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Cypress Semiconductor in the first quarter worth $132,000. Wedbush Securities Inc. acquired a new stake in shares of Cypress Semiconductor in the first quarter worth $177,000. Private Advisor Group LLC acquired a new stake in shares of Cypress Semiconductor in the first quarter worth $180,000. Finally, Wolverine Asset Management LLC increased its position in shares of Cypress Semiconductor by 61.3% in the fourth quarter. Wolverine Asset Management LLC now owns 10,724 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 4,075 shares in the last quarter. 84.91% of the stock is owned by institutional investors.
In other Cypress Semiconductor news, Director Michael S. Wishart sold 5,900 shares of the stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $16.90, for a total transaction of $99,710.00. Following the transaction, the director now directly owns 77,923 shares in the company, valued at approximately $1,316,898.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Monday, April 16th. The shares were sold at an average price of $17.24, for a total transaction of $51,720.00. Following the transaction, the executive vice president now owns 123,125 shares in the company, valued at $2,122,675. The disclosure for this sale can be found here. Insiders have sold a total of 25,266 shares of company stock worth $425,787 over the last quarter. 0.43% of the stock is currently owned by insiders.
NASDAQ CY opened at $15.58 on Friday. Cypress Semiconductor Co. has a 12 month low of $12.50 and a 12 month high of $18.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 1.27. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 0.94 and a beta of 2.09.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Cypress Semiconductor had a negative net margin of 1.63% and a positive return on equity of 15.62%. The firm had revenue of $582.24 million for the quarter, compared to the consensus estimate of $580.44 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. research analysts expect that Cypress Semiconductor Co. will post 1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Thursday, June 28th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.82%. Cypress Semiconductor’s dividend payout ratio (DPR) is 73.33%.
Several research firms have recently issued reports on CY. Zacks Investment Research lowered shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. BidaskClub downgraded shares of Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Cowen initiated coverage on shares of Cypress Semiconductor in a research note on Tuesday, May 22nd. They issued an “outperform” rating and a $21.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research note on Friday, April 27th. Finally, Mizuho restated a “buy” rating on shares of Cypress Semiconductor in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.42.
Cypress Semiconductor 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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