Robertson Opportunity Capital LLC lifted its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 468,000 shares of the semiconductor company’s stock after purchasing an additional 33,000 shares during the quarter. Cypress Semiconductor comprises approximately 4.2% of Robertson Opportunity Capital LLC’s holdings, making the stock its 10th largest position. Robertson Opportunity Capital LLC owned 0.14% of Cypress Semiconductor worth $7,132,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CY. HAP Trading LLC bought a new position in Cypress Semiconductor in the 3rd quarter valued at approximately $5,386,000. Westfield Capital Management Co. LP bought a new position in shares of Cypress Semiconductor during the 3rd quarter valued at $53,009,000. Formula Growth Ltd. lifted its holdings in shares of Cypress Semiconductor by 41.3% during the 3rd quarter. Formula Growth Ltd. now owns 520,400 shares of the semiconductor company’s stock valued at $7,816,000 after buying an additional 152,000 shares during the period. Swiss National Bank lifted its holdings in shares of Cypress Semiconductor by 2.8% during the 4th quarter. Swiss National Bank now owns 566,345 shares of the semiconductor company’s stock valued at $8,631,000 after buying an additional 15,400 shares during the period. Finally, ETRADE Capital Management LLC lifted its holdings in shares of Cypress Semiconductor by 37.7% during the 3rd quarter. ETRADE Capital Management LLC now owns 27,813 shares of the semiconductor company’s stock valued at $418,000 after buying an additional 7,615 shares during the period. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
In other Cypress Semiconductor news, CEO Hassane El-Khoury sold 43,991 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total value of $774,241.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sam Geha sold 20,652 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $17.59, for a total value of $363,268.68. Following the completion of the sale, the executive vice president now owns 96,029 shares of the company’s stock, valued at approximately $1,689,150.11. The disclosure for this sale can be found here. Insiders sold a total of 73,643 shares of company stock valued at $1,284,030 in the last quarter. 0.69% of the stock is currently owned by company insiders.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $597.54 million during the quarter, compared to analyst estimates of $593.15 million. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. Cypress Semiconductor’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. research analysts anticipate that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.44 dividend on an annualized basis and a yield of 2.40%. Cypress Semiconductor’s payout ratio is presently -157.14%.
Several equities analysts have recently weighed in on CY shares. BidaskClub raised Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Piper Jaffray Companies started coverage on Cypress Semiconductor in a report on Monday, December 18th. They set an “overweight” rating and a $20.00 price target on the stock. Zacks Investment Research cut Cypress Semiconductor from a “buy” rating to a “sell” rating in a report on Thursday, February 1st. Mizuho reissued a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Cypress Semiconductor in a report on Friday, January 12th. Finally, Morgan Stanley reissued an “underweight” rating and set a $14.50 price target on shares of Cypress Semiconductor in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Cypress Semiconductor currently has an average rating of “Buy” and an average price target of $19.04.
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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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