Stock Traders Buy High Volume of Call Options on Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corporation (NASDAQ:CY) saw some unusual options trading activity on Wednesday. Traders purchased 1,178 call options on the company. This represents an increase of 274% compared to the typical volume of 315 call options.

In related news, Director Eric Benhamou sold 50,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $13.31, for a total transaction of $665,500.00. Following the completion of the sale, the director now owns 89,997 shares of the company’s stock, valued at approximately $1,197,860.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Oc Kwon sold 6,385 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $14.01, for a total transaction of $89,453.85. Following the sale, the director now directly owns 69,124 shares of the company’s stock, valued at approximately $968,427.24. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Cypress Semiconductor Corporation by 1.0% in the first quarter. Vanguard Group Inc. now owns 28,928,330 shares of the semiconductor company’s stock worth $398,053,000 after buying an additional 282,468 shares during the period. BlackRock Inc. raised its stake in shares of Cypress Semiconductor Corporation by 13,107.4% in the first quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock worth $380,014,000 after buying an additional 27,408,148 shares during the last quarter. TCW Group Inc. raised its stake in shares of Cypress Semiconductor Corporation by 19.0% in the first quarter. TCW Group Inc. now owns 11,876,197 shares of the semiconductor company’s stock worth $163,416,000 after buying an additional 1,895,279 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Cypress Semiconductor Corporation by 15.9% in the first quarter. Epoch Investment Partners Inc. now owns 8,918,409 shares of the semiconductor company’s stock worth $122,718,000 after buying an additional 1,225,130 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Cypress Semiconductor Corporation by 3.0% in the first quarter. State Street Corp now owns 8,874,861 shares of the semiconductor company’s stock worth $122,116,000 after buying an additional 260,449 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

Several analysts have recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $17.00 price target on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. Loop Capital restated a “buy” rating and issued a $16.00 price objective on shares of Cypress Semiconductor Corporation in a report on Wednesday, March 29th. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective (up from $14.00) on shares of Cypress Semiconductor Corporation in a report on Wednesday, March 29th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Cypress Semiconductor Corporation in a report on Thursday, March 30th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Cypress Semiconductor Corporation currently has a consensus rating of “Buy” and an average target price of $15.77.

Cypress Semiconductor Corporation (NASDAQ CY) opened at 14.29 on Tuesday. The company has a 50 day moving average of $13.59 and a 200-day moving average of $13.02. Cypress Semiconductor Corporation has a 52-week low of $9.63 and a 52-week high of $14.98. The stock’s market capitalization is $4.71 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings data on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. The company had revenue of $532 million during the quarter, compared to analysts’ expectations of $511.41 million. Cypress Semiconductor Corporation had a positive return on equity of 5.31% and a negative net margin of 30.84%. During the same period last year, the business earned $0.07 earnings per share. Equities research analysts anticipate that Cypress Semiconductor Corporation will post $0.72 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, June 29th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, June 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.08%. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -22.22%.

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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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