Cypress Semiconductor Corporation (NASDAQ:CY) Shares Bought by Fmr LLC
FMR LLC increased its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 230.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,014,980 shares of the semiconductor company’s stock after buying an additional 2,102,360 shares during the period. FMR LLC owned approximately 0.92% of Cypress Semiconductor Corporation worth $41,487,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in CY. Envestnet Asset Management Inc. raised its stake in Cypress Semiconductor Corporation by 24.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,253 shares of the semiconductor company’s stock worth $289,000 after buying an additional 4,940 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Cypress Semiconductor Corporation during the fourth quarter worth $152,000. Janus Capital Management LLC acquired a new stake in Cypress Semiconductor Corporation during the fourth quarter worth $1,175,000. Tudor Investment Corp Et Al purchased a new position in shares of Cypress Semiconductor Corporation during the fourth quarter valued at approximately $176,000. Finally, Guggenheim Capital LLC raised its position in shares of Cypress Semiconductor Corporation by 6.9% in the fourth quarter. Guggenheim Capital LLC now owns 410,183 shares of the semiconductor company’s stock valued at $4,693,000 after buying an additional 26,618 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.
Cypress Semiconductor Corporation (NASDAQ CY) traded down 1.21% during mid-day trading on Friday, hitting $13.93. The stock had a trading volume of 4,190,185 shares. The firm’s market cap is $4.63 billion. Cypress Semiconductor Corporation has a 12-month low of $9.63 and a 12-month high of $15.11. The stock has a 50-day moving average price of $13.92 and a 200 day moving average price of $13.47.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The company had revenue of $593.80 million for the quarter, compared to the consensus estimate of $546.82 million. During the same period in the previous year, the business earned $0.13 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Cypress Semiconductor Corporation will post $0.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, June 29th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, June 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is currently -110.00%.
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CY has been the topic of a number of recent research reports. Stephens reaffirmed an “overweight” rating on shares of Cypress Semiconductor Corporation in a research report on Tuesday, May 9th. Barclays PLC raised their price target on Cypress Semiconductor Corporation from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. KeyCorp set a $17.00 price target on Cypress Semiconductor Corporation and gave the stock a “buy” rating in a report on Wednesday, July 26th. Needham & Company LLC raised their price target on Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $16.67.
In other news, Director Oc Kwon sold 6,385 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $14.01, for a total value of $89,453.85. Following the transaction, the director now directly owns 69,124 shares of the company’s stock, valued at $968,427.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Benhamou sold 50,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $13.31, for a total transaction of $665,500.00. Following the completion of the transaction, the director now directly owns 89,997 shares in the company, valued at $1,197,860.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,385 shares of company stock worth $1,177,054. Company insiders own 0.69% of the company’s stock.
About Cypress Semiconductor Corporation
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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