Capital Fund Management S.A. reduced its holdings in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 43.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,161 shares of the semiconductor company’s stock after selling 46,986 shares during the quarter. Capital Fund Management S.A.’s holdings in Cypress Semiconductor Corporation were worth $848,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Cypress Semiconductor Corporation by 13,107.4% during the first quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock worth $380,014,000 after purchasing an additional 27,408,148 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in Cypress Semiconductor Corporation during the second quarter worth $83,217,000. JPMorgan Chase & Co. lifted its stake in Cypress Semiconductor Corporation by 247.2% during the second quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock worth $108,483,000 after purchasing an additional 5,658,750 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Cypress Semiconductor Corporation by 402.1% during the first quarter. Lazard Asset Management LLC now owns 6,810,329 shares of the semiconductor company’s stock worth $93,710,000 after purchasing an additional 5,453,982 shares during the last quarter. Finally, FMR LLC lifted its stake in Cypress Semiconductor Corporation by 230.4% during the first quarter. FMR LLC now owns 3,014,980 shares of the semiconductor company’s stock worth $41,487,000 after purchasing an additional 2,102,360 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.
Shares of Cypress Semiconductor Corporation (CY) opened at 14.41 on Friday. The firm’s market capitalization is $4.79 billion. Cypress Semiconductor Corporation has a 12 month low of $9.63 and a 12 month high of $15.11. The firm’s 50-day moving average price is $13.73 and its 200-day moving average price is $13.76.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The company had revenue of $593.80 million during the quarter, compared to the consensus estimate of $546.82 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 annualized dividend and a dividend yield of 3.05%. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.
Several equities analysts recently issued reports on CY shares. Zacks Investment Research upgraded 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 Thursday, June 29th. TheStreet raised Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. KeyCorp reaffirmed an “overweight” rating on shares of Cypress Semiconductor Corporation in a research report on Thursday. Loop Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. Finally, Needham & Company LLC increased their target price on Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.09.
In related news, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $14.10, for a total transaction of $3,526,057.50. Following the completion of the transaction, the executive vice president now directly owns 302,657 shares of the company’s stock, valued at $4,267,463.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Camillo Martino purchased 10,000 shares of Cypress Semiconductor Corporation stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average cost of $12.92 per share, with a total value of $129,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $258,400. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 60,000 shares of company stock valued at $834,100 and have sold 330,075 shares valued at $4,613,658. 0.69% of the stock is owned by corporate insiders.
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Cypress Semiconductor Corporation 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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