Cypress Semiconductor Co. (CY) Short Interest Up 9.5% in October

Cypress Semiconductor Co. (NASDAQ:CY) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 21,730,153 shares, an increase of 9.5% from the October 15th total of 19,837,852 shares. Based on an average daily trading volume, of 7,262,756 shares, the short-interest ratio is currently 3.0 days. Approximately 6.0% of the company’s shares are sold short.

CY has been the subject of a number of research reports. Zacks Investment Research cut Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a report on Wednesday, September 26th. BidaskClub cut Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Cowen lowered their target price on Cypress Semiconductor from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, October 23rd. ValuEngine upgraded Cypress Semiconductor from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Morgan Stanley lowered their target price on Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, September 24th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.46.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $15.39, for a total value of $46,170.00. Following the completion of the sale, the executive vice president now owns 114,157 shares in the company, valued at approximately $1,756,876.23. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 9,000 shares of company stock valued at $136,290. 0.43% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CY. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Cypress Semiconductor during the 3rd quarter worth about $19,924,000. Prudential Financial Inc. boosted its stake in shares of Cypress Semiconductor by 40.4% during the 3rd quarter. Prudential Financial Inc. now owns 4,121,848 shares of the semiconductor company’s stock worth $59,726,000 after buying an additional 1,186,360 shares during the last quarter. AXA boosted its stake in shares of Cypress Semiconductor by 37.8% during the 3rd quarter. AXA now owns 3,701,312 shares of the semiconductor company’s stock worth $53,632,000 after buying an additional 1,014,533 shares during the last quarter. American Century Companies Inc. lifted its stake in Cypress Semiconductor by 111.5% in the 3rd quarter. American Century Companies Inc. now owns 1,267,164 shares of the semiconductor company’s stock valued at $18,361,000 after purchasing an additional 668,096 shares during the last quarter. Finally, Robecosam AG lifted its stake in Cypress Semiconductor by 27.7% in the 2nd quarter. Robecosam AG now owns 3,000,000 shares of the semiconductor company’s stock valued at $47,310,000 after purchasing an additional 650,000 shares during the last quarter. Institutional investors own 82.04% of the company’s stock.

Cypress Semiconductor stock opened at $13.22 on Friday. Cypress Semiconductor has a one year low of $11.75 and a one year high of $18.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 1.02. The stock has a market cap of $4.88 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.07 and a beta of 2.09.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, October 25th. The semiconductor company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Cypress Semiconductor had a net margin of 2.08% and a return on equity of 21.26%. The company had revenue of $673.04 million during the quarter, compared to the consensus estimate of $669.62 million. On average, sell-side analysts expect that Cypress Semiconductor will post 1.08 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Thursday, December 27th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.33%. Cypress Semiconductor’s dividend payout ratio is 73.33%.

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Cypress Semiconductor Company Profile

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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