Trillium Asset Management LLC boosted its position in Cypress Semiconductor Co. (NASDAQ:CY) by 10.5% in the 1st quarter, HoldingsChannel reports. The firm owned 203,391 shares of the semiconductor company’s stock after buying an additional 19,386 shares during the period. Trillium Asset Management LLC’s holdings in Cypress Semiconductor were worth $3,035,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cypress Semiconductor during the fourth quarter worth $48,029,000. Vanguard Group Inc increased its position in Cypress Semiconductor by 8.2% during the third quarter. Vanguard Group Inc now owns 37,219,787 shares of the semiconductor company’s stock worth $539,316,000 after buying an additional 2,820,094 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Cypress Semiconductor by 1,186.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,820,448 shares of the semiconductor company’s stock worth $143,000 after buying an additional 1,678,971 shares in the last quarter. Millennium Management LLC increased its position in Cypress Semiconductor by 103.2% during the fourth quarter. Millennium Management LLC now owns 2,865,315 shares of the semiconductor company’s stock worth $36,447,000 after buying an additional 1,455,190 shares in the last quarter. Finally, Robecosam AG increased its position in Cypress Semiconductor by 37.2% during the fourth quarter. Robecosam AG now owns 3,985,000 shares of the semiconductor company’s stock worth $50,410,000 after buying an additional 1,080,000 shares in the last quarter. 81.36% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Trent Thad sold 17,000 shares of Cypress Semiconductor stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.35, for a total value of $260,950.00. Following the transaction, the executive vice president now owns 340,117 shares in the company, valued at $5,220,795.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oc Kwon sold 3,710 shares of Cypress Semiconductor stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.13, for a total value of $63,552.30. Following the completion of the transaction, the director now owns 73,113 shares in the company, valued at approximately $1,252,425.69. The disclosure for this sale can be found here. Insiders have sold 39,710 shares of company stock worth $631,872 in the last 90 days. Insiders own 0.55% of the company’s stock.
Several equities analysts have weighed in on the company. BidaskClub raised Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 18th. Zacks Investment Research raised Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, May 1st. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Cypress Semiconductor in a report on Monday, April 1st. Bank of America restated a “buy” rating and set a $18.00 price objective on shares of Cypress Semiconductor in a report on Thursday, March 14th. Finally, Craig Hallum restated a “buy” rating and set a $20.00 price objective (up previously from $18.00) on shares of Cypress Semiconductor in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Cypress Semiconductor currently has an average rating of “Buy” and a consensus price target of $17.21.
Shares of CY stock traded down $0.21 during mid-day trading on Thursday, hitting $15.87. 136,130 shares of the company’s stock were exchanged, compared to its average volume of 4,253,532. Cypress Semiconductor Co. has a fifty-two week low of $11.75 and a fifty-two week high of $18.59. The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.96.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The business had revenue of $539.00 million for the quarter, compared to analysts’ expectations of $535.13 million. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. As a group, analysts anticipate that Cypress Semiconductor Co. will post 0.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 27th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is 37.93%.
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About Cypress Semiconductor
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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