Short Interest in Cypress Semiconductor Corporation (CY) Declines By 8.0%

Cypress Semiconductor Corporation (NASDAQ:CY) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 29,499,736 shares, a decline of 8.0% from the October 13th total of 32,052,641 shares. Currently, 9.2% of the company’s shares are short sold. Based on an average daily trading volume, of 4,815,414 shares, the days-to-cover ratio is currently 6.1 days.

Cypress Semiconductor Corporation (NASDAQ CY) opened at $16.61 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. Cypress Semiconductor Corporation has a twelve month low of $10.51 and a twelve month high of $17.15. The firm has a market cap of $5,540.00, a P/E ratio of 34.96, a PEG ratio of 3.02 and a beta of 2.02.

Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Cypress Semiconductor Corporation had a negative net margin of 5.75% and a positive return on equity of 9.01%. The firm had revenue of $604.57 million during the quarter, compared to analysts’ expectations of $602.16 million. During the same period in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.65%. Cypress Semiconductor Corporation’s payout ratio is -110.00%.

Several equities research analysts recently commented on CY shares. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. KeyCorp set a $17.00 price objective on shares of Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Craig Hallum boosted their price objective on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Needham & Company LLC boosted their price objective on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Loop Capital reissued a “buy” rating and set a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $17.67.

In other Cypress Semiconductor Corporation news, Director Camillo Martino acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $12.92 per share, with a total value of $129,200.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $258,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine P. Lego acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $13.69 per share, for a total transaction of $273,800.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 60,000 shares of company stock worth $834,100 and have sold 86,087 shares worth $1,367,772. 0.69% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Cypress Semiconductor Corporation by 0.8% during the second quarter. BlackRock Inc. now owns 27,848,587 shares of the semiconductor company’s stock valued at $380,133,000 after purchasing an additional 231,335 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Cypress Semiconductor Corporation by 13.8% during the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock valued at $202,214,000 after purchasing an additional 1,628,930 shares during the last quarter. FMR LLC raised its holdings in shares of Cypress Semiconductor Corporation by 310.3% during the second quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock valued at $168,875,000 after purchasing an additional 9,356,825 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cypress Semiconductor Corporation by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock valued at $184,179,000 after purchasing an additional 3,116,871 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Cypress Semiconductor Corporation by 3.4% during the second quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock valued at $125,265,000 after purchasing an additional 302,001 shares during the last quarter. 97.58% of the stock is owned by hedge funds and other institutional investors.

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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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