Cypress Semiconductor Corporation (CY) Short Interest Down 6.8% in August
Cypress Semiconductor Corporation (NASDAQ:CY) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 29,801,888 shares, a drop of 6.8% from the July 31st total of 31,978,323 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average daily volume of 5,055,209 shares, the short-interest ratio is currently 5.9 days.
In related news, Director Oc Kwon sold 6,385 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was 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 approximately $968,427.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dana Nazarian sold 250,075 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $14.10, for a total value of $3,526,057.50. Following the completion of the transaction, the executive vice president now directly owns 302,657 shares in the company, valued at $4,267,463.70. The disclosure for this sale can be found here. Insiders have sold a total of 336,460 shares of company stock valued at $4,703,111 over the last ninety days. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CY. Cigna Investments Inc. New boosted its position in Cypress Semiconductor Corporation by 0.6% in the second quarter. Cigna Investments Inc. New now owns 12,584 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 72 shares during the last quarter. ProShare Advisors LLC boosted its position in Cypress Semiconductor Corporation by 0.3% in the second quarter. ProShare Advisors LLC now owns 47,595 shares of the semiconductor company’s stock valued at $650,000 after buying an additional 162 shares during the last quarter. Capstone Asset Management Co. boosted its position in Cypress Semiconductor Corporation by 0.8% in the second quarter. Capstone Asset Management Co. now owns 23,441 shares of the semiconductor company’s stock valued at $320,000 after buying an additional 180 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Cypress Semiconductor Corporation by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,079 shares of the semiconductor company’s stock valued at $656,000 after buying an additional 182 shares during the last quarter. Finally, Creative Planning boosted its position in Cypress Semiconductor Corporation by 2.0% in the first quarter. Creative Planning now owns 12,259 shares of the semiconductor company’s stock valued at $169,000 after buying an additional 241 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on CY shares. Craig Hallum raised their price objective on Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, May 2nd. Loop Capital reissued a “buy” rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Friday, July 28th. Barclays PLC raised Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Finally, KeyCorp reissued an “overweight” rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.75.
Cypress Semiconductor Corporation (NASDAQ CY) opened at 13.37 on Wednesday. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $15.11. The company’s market capitalization is $4.45 billion. The firm has a 50-day moving average price of $13.97 and a 200 day moving average price of $13.65.
Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million for the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Analysts expect that Cypress Semiconductor Corporation will post $0.80 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 annualized dividend and a dividend yield of 3.29%. Cypress Semiconductor Corporation’s payout ratio is currently -110.00%.
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Cypress Semiconductor Corporation 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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