New Mexico Educational Retirement Board trimmed its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,000 shares of the semiconductor company’s stock after selling 14,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Cypress Semiconductor were worth $1,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CY. Northwest Quadrant Wealth Management LLC bought a new position in Cypress Semiconductor during the 1st quarter valued at about $206,000. Cornerstone Wealth Management LLC bought a new position in Cypress Semiconductor during the 2nd quarter valued at about $290,000. Institutional & Family Asset Management LLC bought a new position in Cypress Semiconductor during the 1st quarter valued at about $132,000. Wedbush Securities Inc. bought a new position in Cypress Semiconductor during the 1st quarter valued at about $177,000. Finally, Private Advisor Group LLC bought a new position in Cypress Semiconductor during the 1st quarter valued at about $180,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.

In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $16.45, for a total value of $49,350.00. Following the completion of the sale, the executive vice president now owns 120,734 shares of the company’s stock, valued at approximately $1,986,074.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael S. Wishart sold 5,900 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $16.90, for a total transaction of $99,710.00. Following the completion of the sale, the director now directly owns 77,923 shares of the company’s stock, valued at approximately $1,316,898.70. The disclosure for this sale can be found here. Insiders sold a total of 27,283 shares of company stock worth $457,453 over the last 90 days. Insiders own 0.43% of the company’s stock.

CY has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Cypress Semiconductor in a report on Friday, April 27th. Mizuho reiterated a “buy” rating on shares of Cypress Semiconductor in a report on Friday, April 27th. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, May 1st. Cowen assumed coverage on shares of Cypress Semiconductor in a report on Tuesday, May 22nd. They set an “outperform” rating and a $21.00 price target on the stock. Finally, BidaskClub downgraded shares of Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.96.

Shares of Cypress Semiconductor opened at $16.71 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.37. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.05 and a beta of 2.06. Cypress Semiconductor Co. has a one year low of $12.50 and a one year high of $18.87.

Cypress Semiconductor (NASDAQ:CY) last issued its earnings results on Thursday, July 26th. The semiconductor company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. The business had revenue of $624.00 million for the quarter, compared to the consensus estimate of $618.49 million. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. equities analysts forecast that Cypress Semiconductor Co. will post 1.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Thursday, September 27th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 26th. This represents a $0.44 dividend on an annualized basis and a yield of 2.63%. Cypress Semiconductor’s dividend payout ratio is currently 73.33%.

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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Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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