Short Interest in Cypress Semiconductor Corp. (CY) Increases By 5.8%
Cypress Semiconductor Corp. (NASDAQ:CY) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 40,954,089 shares, an increase of 5.8% from the August 31st total of 38,718,852 shares. Based on an average daily trading volume, of 6,439,573 shares, the days-to-cover ratio is currently 6.4 days. Currently, 13.3% of the company’s shares are short sold.
Several analysts recently commented on the stock. Roth Capital restated a “buy” rating and set a $13.00 price target on shares of Cypress Semiconductor Corp. in a report on Friday, September 16th. Morgan Stanley restated an “equal weight” rating on shares of Cypress Semiconductor Corp. in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Cypress Semiconductor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Needham & Company LLC raised their price target on shares of Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Pacific Crest raised their price target on shares of Cypress Semiconductor Corp. from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $11.43.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) opened at 11.88 on Wednesday. The firm’s market cap is $3.82 billion. Cypress Semiconductor Corp. has a 52 week low of $6.30 and a 52 week high of $12.48. The stock has a 50 day moving average of $11.69 and a 200 day moving average of $10.39.
Cypress Semiconductor Corp. (NASDAQ:CY) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Cypress Semiconductor Corp. had a positive return on equity of 3.26% and a negative net margin of 37.59%. The company had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $455.15 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was down 7.1% compared to the same quarter last year. Equities analysts forecast that Cypress Semiconductor Corp. will post $0.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 29th will be paid a $0.11 dividend. 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 (DPR) is presently -20.85%.
In related news, Director Eric Benhamou sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $11.83, for a total transaction of $591,500.00. Following the completion of the sale, the director now directly owns 218,538 shares in the company, valued at $2,585,304.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director H Raymond Bingham sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $11.65, for a total transaction of $174,750.00. Following the sale, the director now owns 40,276 shares of the company’s stock, valued at $469,215.40. The disclosure for this sale can be found here. 6.33% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Sii Investments Inc. WI acquired a new stake in Cypress Semiconductor Corp. during the first quarter worth $327,000. Cornerstone Financial Partners LLC boosted its stake in Cypress Semiconductor Corp. by 89.6% in the first quarter. Cornerstone Financial Partners LLC now owns 119,069 shares of the company’s stock worth $1,031,000 after buying an additional 56,262 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in Cypress Semiconductor Corp. during the first quarter worth $8,904,000. Royce & Associates LP acquired a new stake in Cypress Semiconductor Corp. during the first quarter worth $5,885,000. Finally, Rafferty Asset Management LLC acquired a new stake in Cypress Semiconductor Corp. during the first quarter worth $259,000. Institutional investors and hedge funds own 96.60% of the company’s stock.
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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