Insider Selling: Cypress Semiconductor Corp. (CY) Insider Sells 15,000 Shares of Stock
Cypress Semiconductor Corp. (NASDAQ:CY) insider H Raymond Bingham sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $12.10, for a total value of $181,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
H Raymond Bingham also recently made the following trade(s):
- On Thursday, September 1st, H Raymond Bingham sold 15,000 shares of Cypress Semiconductor Corp. stock. The stock was sold at an average price of $11.96, for a total value of $179,400.00.
- On Monday, August 1st, H Raymond Bingham sold 15,000 shares of Cypress Semiconductor Corp. stock. The stock was sold at an average price of $11.65, for a total value of $174,750.00.
Cypress Semiconductor Corp. (NASDAQ:CY) opened at 11.88 on Wednesday. Cypress Semiconductor Corp. has a 12 month low of $6.30 and a 12 month high of $12.48. The firm has a 50-day moving average price of $11.69 and a 200 day moving average price of $10.39. The company’s market capitalization is $3.82 billion.
Cypress Semiconductor Corp. (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $450.10 million for the quarter, compared to the consensus estimate of $455.15 million. Cypress Semiconductor Corp. had a positive return on equity of 3.26% and a negative net margin of 37.59%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. Analysts expect that Cypress Semiconductor Corp. will post $0.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 29th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Tuesday, September 27th. Cypress Semiconductor Corp.’s dividend payout ratio is currently -20.85%.
CY has been the subject of a number of recent research reports. Roth Capital reaffirmed a “buy” rating and set a $13.00 price target on shares of Cypress Semiconductor Corp. in a research note on Friday, September 16th. Craig Hallum raised their price target on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Needham & Company LLC raised their price target on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research raised Cypress Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, June 28th. Finally, Morgan Stanley downgraded Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $11.36 to $11.00 in a research note on Monday, July 18th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Cypress Semiconductor Corp. currently has an average rating of “Buy” and an average price target of $11.43.
Large investors have recently modified their holdings of the company. ING Groep NV bought a new stake in shares of Cypress Semiconductor Corp. during the second quarter worth about $123,556,000. Magnetar Financial LLC increased its stake in shares of Cypress Semiconductor Corp. by 11.0% in the first quarter. Magnetar Financial LLC now owns 44,777 shares of the company’s stock worth $388,000 after buying an additional 4,445 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Cypress Semiconductor Corp. during the second quarter worth $112,000. Loomis Sayles & Co. L P increased its stake in shares of Cypress Semiconductor Corp. by 4.9% in the first quarter. Loomis Sayles & Co. L P now owns 1,700,082 shares of the company’s stock worth $14,723,000 after buying an additional 79,140 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Cypress Semiconductor Corp. by 2,901.3% in the first quarter. Lazard Asset Management LLC now owns 369,764 shares of the company’s stock worth $3,202,000 after buying an additional 357,444 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.
About Cypress Semiconductor Corp.
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.
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