FTB Advisors Inc. boosted its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 7,489.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,531 shares of the semiconductor company’s stock after purchasing an additional 17,300 shares during the quarter. FTB Advisors Inc.’s holdings in Cypress Semiconductor were worth $263,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CY. Cigna Investments Inc. New lifted its position in Cypress Semiconductor by 0.6% in the second quarter. Cigna Investments Inc. New now owns 12,584 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 72 shares during the period. ProShare Advisors LLC raised its stake in Cypress Semiconductor by 0.3% during the second quarter. ProShare Advisors LLC now owns 47,595 shares of the semiconductor company’s stock worth $650,000 after acquiring an additional 162 shares in the last quarter. Capstone Asset Management Co. raised its stake in Cypress Semiconductor by 0.8% during the second quarter. Capstone Asset Management Co. now owns 23,441 shares of the semiconductor company’s stock worth $320,000 after acquiring an additional 180 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cypress Semiconductor by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,079 shares of the semiconductor company’s stock worth $656,000 after acquiring an additional 182 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Cypress Semiconductor by 1.6% during the second quarter. Bank of Montreal Can now owns 20,158 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 324 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.
In other Cypress Semiconductor news, SVP Sam Geha sold 8,269 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $16.70, for a total value of $138,092.30. Following the completion of the transaction, the senior vice president now owns 63,000 shares of the company’s stock, valued at approximately $1,052,100. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $16.60, for a total value of $49,800.00. Following the completion of the transaction, the senior vice president now directly owns 70,607 shares of the company’s stock, valued at approximately $1,172,076.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,604 shares of company stock valued at $1,619,497. 0.69% of the stock is owned by corporate insiders.
Shares of Cypress Semiconductor Corporation (CY) opened at $17.38 on Monday. The stock has a market capitalization of $5,800.77, a price-to-earnings ratio of 36.22, a P/E/G ratio of 3.13 and a beta of 2.02. Cypress Semiconductor Corporation has a one year low of $10.51 and a one year high of $17.42. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.60.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. equities analysts predict that Cypress Semiconductor Corporation will post 0.56 earnings per share 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 given a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.53%. Cypress Semiconductor’s dividend payout ratio is currently -110.00%.
A number of brokerages recently commented on CY. Loop Capital reiterated a “buy” rating and issued a $17.00 price objective on shares of Cypress Semiconductor in a research report on Tuesday, August 22nd. Mizuho restated a “buy” rating and set a $17.00 target price on shares of Cypress Semiconductor in a report on Tuesday, August 29th. Craig Hallum restated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a report on Thursday, August 31st. KeyCorp restated an “overweight” rating on shares of Cypress Semiconductor in a report on Thursday, September 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a report on Monday, September 18th. 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 issued a strong buy rating to the company’s stock. Cypress Semiconductor has a consensus rating of “Buy” and a consensus target price of $17.67.
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Cypress Semiconductor 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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