Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Cypress Semiconductor Co. (NASDAQ:CY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 286,681 shares of the semiconductor company’s stock, valued at approximately $4,154,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Cypress Semiconductor at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of Cypress Semiconductor by 475.9% during the third quarter. Hsbc Holdings PLC now owns 733,921 shares of the semiconductor company’s stock valued at $10,634,000 after buying an additional 606,483 shares during the period. Stevens Capital Management LP increased its stake in shares of Cypress Semiconductor by 735.6% during the third quarter. Stevens Capital Management LP now owns 221,258 shares of the semiconductor company’s stock valued at $3,206,000 after buying an additional 194,780 shares during the period. Marathon Capital Management increased its stake in shares of Cypress Semiconductor by 6.7% during the third quarter. Marathon Capital Management now owns 204,680 shares of the semiconductor company’s stock valued at $2,965,000 after buying an additional 12,775 shares during the period. Baird Financial Group Inc. increased its stake in shares of Cypress Semiconductor by 3.4% during the third quarter. Baird Financial Group Inc. now owns 515,954 shares of the semiconductor company’s stock valued at $7,404,000 after buying an additional 17,076 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Cypress Semiconductor during the third quarter valued at $202,000. Institutional investors and hedge funds own 83.47% of the company’s stock.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Camillo Martino purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average price of $12.80 per share, for a total transaction of $64,000.00. The disclosure for this purchase can be found here. Insiders sold 59,000 shares of company stock worth $824,170 in the last quarter. 0.43% of the stock is owned by insiders.
Several equities analysts have recently commented on the company. BidaskClub lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Piper Jaffray Companies set a $15.00 price target on Cypress Semiconductor and gave the company a “buy” rating in a research note on Friday, October 26th. ValuEngine lowered Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Monday, October 8th. Craig Hallum cut their target price on Cypress Semiconductor from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, Roth Capital cut their target price on Cypress Semiconductor from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Cypress Semiconductor has an average rating of “Hold” and a consensus target price of $18.35.
CY opened at $12.95 on Friday. Cypress Semiconductor Co. has a 1 year low of $11.75 and a 1 year high of $18.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.43. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.06 and a beta of 2.11.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results 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. Cypress Semiconductor had a return on equity of 21.26% and a net margin of 2.08%. The company had revenue of $673.04 million for the quarter, compared to analyst estimates of $669.62 million. Sell-side analysts predict that Cypress Semiconductor Co. will post 1.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, December 27th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $0.44 annualized dividend and a yield of 3.40%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 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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