BB&T Securities LLC purchased a new stake in Cypress Semiconductor Co. (NASDAQ:CY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 33,922 shares of the semiconductor company’s stock, valued at approximately $509,000.
Several other institutional investors have also made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Cypress Semiconductor by 15.8% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after purchasing an additional 210,992 shares in the last quarter. HAP Trading LLC purchased a new position in shares of Cypress Semiconductor in the 3rd quarter valued at about $5,386,000. Teacher Retirement System of Texas increased its holdings in shares of Cypress Semiconductor by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 989 shares during the last quarter. Blair William & Co. IL purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $995,000. Finally, Northpointe Capital LLC increased its holdings in shares of Cypress Semiconductor by 69.2% in the 2nd quarter. Northpointe Capital LLC now owns 541,074 shares of the semiconductor company’s stock valued at $7,386,000 after acquiring an additional 221,288 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.
In other Cypress Semiconductor news, EVP Trent Thad sold 74,818 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $15.77, for a total value of $1,179,879.86. Following the completion of the sale, the executive vice president now directly owns 172,105 shares in the company, valued at $2,714,095.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $15.51, for a total value of $46,530.00. Following the completion of the sale, the senior vice president now owns 68,445 shares of the company’s stock, valued at $1,061,581.95. The disclosure for this sale can be found here. Insiders sold a total of 103,604 shares of company stock valued at $1,666,027 over the last three months. Corporate insiders own 0.69% of the company’s stock.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $21.00 target price on shares of Cypress Semiconductor in a research note on Tuesday, December 5th. Loop Capital reiterated a “buy” rating and issued a $20.00 target price (up from $17.00) on shares of Cypress Semiconductor in a research note on Friday, October 27th. Susquehanna Bancshares initiated coverage on Cypress Semiconductor in a report on Wednesday, December 13th. They issued a “positive” rating and a $20.00 price target for the company. Finally, Barclays cut Cypress Semiconductor from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $18.00 to $17.00 in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $18.04.
Shares of Cypress Semiconductor Co. (NASDAQ CY) traded up $0.60 during midday trading on Tuesday, reaching $15.84. The company’s stock had a trading volume of 5,130,000 shares, compared to its average volume of 6,280,000. Cypress Semiconductor Co. has a 12-month low of $10.99 and a 12-month high of $17.42. The firm has a market capitalization of $5,290.00, a PE ratio of -39.60, a P/E/G ratio of 2.75 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The company had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. research analysts anticipate that Cypress Semiconductor Co. will post 0.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is -110.00%.
Cypress Semiconductor 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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