Alpine Group USVI LLC acquired a new position in shares of Cypress Semiconductor Co. (NASDAQ:CY) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the semiconductor company’s stock, valued at approximately $1,167,000.
Other large investors also recently modified their holdings of the company. Enlightenment Research LLC acquired a new stake in shares of Cypress Semiconductor during the second quarter worth $196,000. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Cypress Semiconductor during the second quarter worth $1,258,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cypress Semiconductor by 4.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,780 shares of the semiconductor company’s stock worth $529,000 after acquiring an additional 1,018 shares during the period. Man Group plc raised its holdings in shares of Cypress Semiconductor by 422.0% during the second quarter. Man Group plc now owns 543,210 shares of the semiconductor company’s stock worth $12,081,000 after acquiring an additional 439,151 shares during the period. Finally, Alpha Windward LLC raised its holdings in shares of Cypress Semiconductor by 2,355.3% during the second quarter. Alpha Windward LLC now owns 30,912 shares of the semiconductor company’s stock worth $711,000 after acquiring an additional 29,653 shares during the period. Institutional investors and hedge funds own 80.94% of the company’s stock.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $22.45, for a total transaction of $67,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 9,000 shares of company stock valued at $206,280 in the last ninety days. 0.55% of the stock is currently owned by insiders.
Shares of CY traded up $0.02 during midday trading on Friday, reaching $23.45. The stock had a trading volume of 235,896 shares, compared to its average volume of 3,994,589. The firm has a 50 day simple moving average of $23.20 and a 200-day simple moving average of $20.40. Cypress Semiconductor Co. has a one year low of $11.75 and a one year high of $23.47. The firm has a market cap of $8.64 billion, a PE ratio of 20.20 and a beta of 1.82. The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.41.
Cypress Semiconductor (NASDAQ:CY) last announced its earnings results on Thursday, July 25th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $532.20 million for the quarter, compared to the consensus estimate of $530.96 million. Cypress Semiconductor had a return on equity of 19.36% and a net margin of 13.83%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, research analysts forecast that Cypress Semiconductor Co. will post 0.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, September 25th. Cypress Semiconductor’s payout ratio is 37.93%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, July 30th. ValuEngine downgraded shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho reaffirmed a “hold” rating and issued a $23.85 target price on shares of Cypress Semiconductor in a research report on Monday, July 29th. Finally, BidaskClub raised shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.75.
Cypress Semiconductor 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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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