Cypress Semiconductor Corp. (CY) CFO Trent Thad Sells 11,390 Shares
Cypress Semiconductor Corp. (NASDAQ:CY) CFO Trent Thad sold 11,390 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $11.83, for a total value of $134,743.70. Following the completion of the sale, the chief financial officer now owns 181,606 shares of the company’s stock, valued at $2,148,398.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) traded down 2.39% during midday trading on Wednesday, hitting $11.05. The stock had a trading volume of 4,324,191 shares. The stock has a 50 day moving average price of $11.74 and a 200-day moving average price of $10.49. Cypress Semiconductor Corp. has a 52 week low of $6.30 and a 52 week high of $12.48. The stock’s market capitalization is $3.55 billion.
Cypress Semiconductor Corp. (NASDAQ:CY) last posted its earnings results on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $450.10 million for the quarter, compared to analyst estimates of $455.15 million. Cypress Semiconductor Corp. had a positive return on equity of 3.26% and a negative net margin of 37.59%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts anticipate that Cypress Semiconductor Corp. will post $0.46 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Thursday, September 29th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.44 annualized dividend and a yield of 3.98%. Cypress Semiconductor Corp.’s dividend payout ratio is presently -20.85%.
A number of brokerages have recently weighed in on CY. Roth Capital began coverage on Cypress Semiconductor Corp. in a report on Wednesday, August 31st. They issued a “buy” rating and a $13.00 price target for the company. Needham & Company LLC upped their price objective on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Craig Hallum upped their price objective on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Pacific Crest upped their price objective on Cypress Semiconductor Corp. from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research downgraded Cypress Semiconductor Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cypress Semiconductor Corp. presently has a consensus rating of “Buy” and an average price target of $11.43.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Cypress Semiconductor Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 23,354,470 shares of the company’s stock valued at $246,390,000 after buying an additional 669,663 shares in the last quarter. BlackRock Fund Advisors raised its position in Cypress Semiconductor Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 11,762,252 shares of the company’s stock valued at $124,092,000 after buying an additional 444,303 shares in the last quarter. ING Groep NV acquired a new position in Cypress Semiconductor Corp. during the second quarter valued at $123,556,000. Dimensional Fund Advisors LP raised its position in Cypress Semiconductor Corp. by 33.8% in the second quarter. Dimensional Fund Advisors LP now owns 10,099,777 shares of the company’s stock valued at $106,535,000 after buying an additional 2,553,068 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in Cypress Semiconductor Corp. during the second quarter valued at $9,495,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.
About Cypress Semiconductor Corp.
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.
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