Cypress Semiconductor Corporation (NASDAQ:CY) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 29,499,736 shares, a drop of 8.0% from the October 13th total of 32,052,641 shares. Based on an average daily volume of 4,815,414 shares, the days-to-cover ratio is currently 6.1 days. Approximately 9.2% of the company’s shares are short sold.
A number of equities research analysts have commented on the company. BidaskClub raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Barclays PLC raised Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Craig Hallum reaffirmed a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor Corporation in a research report on Thursday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor Corporation in a research report on Monday, September 18th. Finally, Credit Suisse Group lifted their target price on Cypress Semiconductor Corporation from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.67.
Cypress Semiconductor Corporation (CY) opened at $16.97 on Friday. The firm has a market capitalization of $5,662.29, a price-to-earnings ratio of 35.35, a PEG ratio of 3.06 and a beta of 2.02. Cypress Semiconductor Corporation has a 52-week low of $10.19 and a 52-week high of $17.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92.
Cypress Semiconductor Corporation (NASDAQ:CY) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Cypress Semiconductor Corporation had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business had revenue of $604.57 million during the quarter, compared to analysts’ expectations of $602.16 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, December 27th. Cypress Semiconductor Corporation’s payout ratio is currently -110.00%.
In related news, Director Camillo Martino acquired 10,000 shares of the stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $258,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Trent Thad sold 74,818 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $15.77, for a total value of $1,179,879.86. Following the sale, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at approximately $2,714,095.85. The disclosure for this sale can be found here. Insiders acquired 60,000 shares of company stock valued at $834,100 over the last quarter. Corporate insiders own 0.69% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Capital Management LLC boosted its holdings in shares of Cypress Semiconductor Corporation by 3.3% in the 2nd quarter. Advisors Capital Management LLC now owns 1,616,935 shares of the semiconductor company’s stock worth $22,071,000 after purchasing an additional 51,688 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Cypress Semiconductor Corporation by 15.8% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after acquiring an additional 210,992 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Cypress Semiconductor Corporation by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 989 shares during the last quarter. Northpointe Capital LLC lifted its stake in shares of Cypress Semiconductor Corporation by 69.2% in the 2nd quarter. Northpointe Capital LLC now owns 541,074 shares of the semiconductor company’s stock valued at $7,386,000 after acquiring an additional 221,288 shares during the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of Cypress Semiconductor Corporation in the 2nd quarter valued at about $995,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.
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Cypress Semiconductor Corporation Company Profile
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
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