Castleark Management LLC raised its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 942,582 shares of the semiconductor company’s stock after acquiring an additional 63,685 shares during the period. Castleark Management LLC owned approximately 0.28% of Cypress Semiconductor worth $14,365,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its stake in shares of Cypress Semiconductor by 13.7% in the 4th quarter. CIBC Asset Management Inc now owns 26,478 shares of the semiconductor company’s stock valued at $404,000 after purchasing an additional 3,200 shares during the period. Aperio Group LLC raised its stake in Cypress Semiconductor by 4.9% during the third quarter. Aperio Group LLC now owns 68,257 shares of the semiconductor company’s stock valued at $1,025,000 after buying an additional 3,201 shares during the last quarter. Macquarie Group Ltd. raised its stake in Cypress Semiconductor by 1.6% during the fourth quarter. Macquarie Group Ltd. now owns 203,872 shares of the semiconductor company’s stock valued at $3,107,000 after buying an additional 3,222 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Cypress Semiconductor by 12.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,582 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 3,361 shares during the last quarter. Finally, CLS Investments LLC increased its holdings in shares of Cypress Semiconductor by 22.2% in the 4th quarter. CLS Investments LLC now owns 18,925 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 3,438 shares in the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.
CY has been the subject of several research analyst reports. BidaskClub raised Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Piper Jaffray started coverage on Cypress Semiconductor in a report on Monday, December 18th. They set an “overweight” rating and a $20.00 price target for the company. Zacks Investment Research downgraded Cypress Semiconductor from a “buy” rating to a “sell” rating in a research report on Thursday, February 1st. Mizuho reiterated a “buy” rating and issued a $20.00 target price (up from $18.00) on shares of Cypress Semiconductor in a research report on Friday, January 12th. Finally, Morgan Stanley restated an “underweight” rating and set a $14.50 price objective on shares of Cypress Semiconductor in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.19.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $18.57, for a total value of $55,710.00. Following the completion of the sale, the executive vice president now directly owns 126,125 shares of the company’s stock, valued at $2,342,141.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hassane El-Khoury sold 43,991 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total transaction of $774,241.60. The disclosure for this sale can be found here. Insiders sold a total of 83,643 shares of company stock valued at $1,478,110 in the last quarter. 0.69% of the stock is owned by insiders.
Shares of NASDAQ:CY traded down $0.39 during trading on Friday, reaching $16.29. 5,251,353 shares of the company’s stock traded hands, compared to its average volume of 6,038,416. Cypress Semiconductor Co. has a fifty-two week low of $12.50 and a fifty-two week high of $18.87. The company has a quick ratio of 0.82, a current ratio of 1.22 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5,833.32, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.04 and a beta of 2.05.
Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $597.54 million for 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 revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. sell-side analysts expect that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, March 29th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.44 annualized dividend and a yield of 2.70%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 73.33%.
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About Cypress Semiconductor
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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