Schwab Charles Investment Management Inc. lifted its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,036,969 shares of the semiconductor company’s stock after acquiring an additional 148,553 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.61% of Cypress Semiconductor worth $31,044,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Whalerock Point Partners LLC purchased a new position in shares of Cypress Semiconductor in the 4th quarter valued at $229,000. Parametric Portfolio Associates LLC boosted its stake in Cypress Semiconductor by 9.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 857,594 shares of the semiconductor company’s stock worth $12,881,000 after purchasing an additional 76,021 shares during the period. Optimum Investment Advisors acquired a new stake in Cypress Semiconductor during the 3rd quarter worth $942,000. Neuberger Berman Group LLC lifted its stake in shares of Cypress Semiconductor by 33.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,478,865 shares of the semiconductor company’s stock worth $37,233,000 after acquiring an additional 618,013 shares during the period. Finally, PVG Asset Management Corp acquired a new stake in shares of Cypress Semiconductor in the 3rd quarter worth $2,513,000. Institutional investors own 91.22% of the company’s stock.
In other Cypress Semiconductor news, SVP Sam Geha sold 14,517 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $17.34, for a total transaction of $251,724.78. Following the completion of the sale, the senior vice president now owns 41,204 shares of the company’s stock, valued at $714,477.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $15.51, for a total value of $46,530.00. Following the sale, the senior vice president now directly owns 68,445 shares of the company’s stock, valued at approximately $1,061,581.95. The disclosure for this sale can be found here. Insiders sold a total of 20,517 shares of company stock worth $349,495 in the last quarter. 0.69% of the stock is owned by corporate insiders.
Shares of Cypress Semiconductor Co. (NASDAQ CY) traded down $0.20 during midday trading on Tuesday, reaching $16.15. 4,510,900 shares of the company’s stock were exchanged, compared to its average volume of 6,160,438. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. Cypress Semiconductor Co. has a 52 week low of $12.46 and a 52 week high of $17.90. The firm has a market cap of $5,390.00, a P/E ratio of -57.68, a price-to-earnings-growth ratio of 1.04 and a beta of 2.17.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $597.54 million during the quarter, compared to analyst estimates of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. sell-side analysts anticipate that Cypress Semiconductor Co. will post 0.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, March 29th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.72%. Cypress Semiconductor’s dividend payout ratio is -157.14%.
CY has been the subject of several recent analyst reports. Craig Hallum restated a “buy” rating and set a $21.00 target price on shares of Cypress Semiconductor in a report on Tuesday, December 5th. SunTrust Banks reiterated a “hold” rating and set a $19.00 price target on shares of Cypress Semiconductor in a report on Friday, February 2nd. Susquehanna Bancshares began coverage on shares of Cypress Semiconductor in a report on Wednesday, December 13th. They issued a “positive” rating and a $20.00 target price for the company. BidaskClub upgraded shares of Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 1st. Finally, Loop Capital reissued a “buy” rating and set a $20.00 target price (up from $17.00) on shares of Cypress Semiconductor in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $19.04.
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Cypress Semiconductor 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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