Eaton Vance Management decreased its stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,372 shares of the semiconductor company’s stock after selling 10,338 shares during the quarter. Eaton Vance Management owned about 0.07% of Cypress Semiconductor worth $3,671,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Raymond James Trust N.A. bought a new position in Cypress Semiconductor during the third quarter valued at $151,000. grace capital bought a new position in Cypress Semiconductor during the second quarter valued at $156,000. Vantage Financial Partners Ltd. Inc. bought a new position in Cypress Semiconductor during the second quarter valued at $159,000. GWM Advisors LLC bought a new position in Cypress Semiconductor during the third quarter valued at $160,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Cypress Semiconductor during the second quarter valued at $171,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.
Several research firms have recently issued reports on CY. ValuEngine lowered shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Roth Capital lowered their target price on shares of Cypress Semiconductor from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Zacks Investment Research lowered shares of Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a report on Wednesday, September 26th. Craig Hallum lowered their target price on shares of Cypress Semiconductor from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, BidaskClub lowered shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.35.
In related news, Director Camillo Martino purchased 5,000 shares of Cypress Semiconductor stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average price of $12.80 per share, with a total value of $64,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $13.88, for a total transaction of $694,000.00. Following the completion of the transaction, the chief executive officer now directly owns 321,539 shares in the company, valued at approximately $4,462,961.32. The disclosure for this sale can be found here. Insiders sold a total of 59,000 shares of company stock worth $824,170 in the last ninety days. 0.43% of the stock is currently owned by insiders.
Cypress Semiconductor stock opened at $12.95 on Friday. The stock has a market capitalization of $4.84 billion, a PE ratio of 12.49, a PEG ratio of 1.06 and a beta of 2.11. Cypress Semiconductor Co. has a 12-month low of $11.75 and a 12-month 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.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, October 25th. The semiconductor company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $673.04 million for the quarter, compared to the consensus estimate of $669.62 million. Cypress Semiconductor had a net margin of 2.08% and a return on equity of 21.26%. Research analysts forecast that Cypress Semiconductor Co. will post 1.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Thursday, December 27th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, December 26th. Cypress Semiconductor’s dividend payout ratio 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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