Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cypress Semiconductor Co. (NASDAQ:CY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,375,005 shares of the semiconductor company’s stock, valued at approximately $19,924,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.38% of Cypress Semiconductor at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CY. Cornerstone Wealth Management LLC bought a new stake in Cypress Semiconductor during the 2nd quarter worth approximately $290,000. grace capital bought a new stake in Cypress Semiconductor during the 2nd quarter worth approximately $156,000. Vantage Financial Partners Ltd. Inc. bought a new stake in Cypress Semiconductor during the 2nd quarter worth approximately $159,000. Raymond James Trust N.A. bought a new stake in Cypress Semiconductor during the 3rd quarter worth approximately $151,000. Finally, Hartford Investment Management Co. bought a new stake in Cypress Semiconductor during the 2nd quarter worth approximately $170,000. 82.04% of the stock is currently owned by institutional investors.
A number of research firms have commented on CY. MKM Partners began coverage on shares of Cypress Semiconductor in a research note on Thursday, October 4th. They set a “buy” rating and a $20.00 target price on the stock. BidaskClub cut shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Morgan Stanley decreased their target price on shares of Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, September 24th. Barclays decreased their target price on shares of Cypress Semiconductor from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, August 1st. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.46.
Cypress Semiconductor stock opened at $13.22 on Friday. The company has a market cap of $4.91 billion, a PE ratio of 12.68, a P/E/G ratio of 1.07 and a beta of 2.09. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46. Cypress Semiconductor Co. has a 1 year low of $11.75 and a 1 year high of $18.87.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, October 25th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $673.04 million for the quarter, compared to analysts’ expectations of $669.62 million. Cypress Semiconductor had a net margin of 2.08% and a return on equity of 21.26%. As a group, analysts anticipate that Cypress Semiconductor Co. will post 1.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Thursday, December 27th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, December 26th. Cypress Semiconductor’s payout ratio is currently 73.33%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $15.39, for a total transaction of $46,170.00. Following the sale, the executive vice president now owns 114,157 shares in the company, valued at $1,756,876.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 9,000 shares of company stock worth $136,290. Company insiders own 0.43% of the company’s stock.
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; 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.
Further Reading: Earnings Per Share
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