Wolverine Asset Management LLC increased its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 61.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,724 shares of the semiconductor company’s stock after purchasing an additional 4,075 shares during the quarter. Wolverine Asset Management LLC’s holdings in Cypress Semiconductor were worth $163,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CY. San Francisco Sentry Investment Group CA grew its position in shares of Cypress Semiconductor by 1,061.4% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 6,082 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Cypress Semiconductor by 750.0% in the fourth quarter. Thompson Davis & CO. Inc. now owns 8,500 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 7,500 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Cypress Semiconductor in the fourth quarter worth $145,000. ClariVest Asset Management LLC boosted its position in Cypress Semiconductor by 80.6% during the third quarter. ClariVest Asset Management LLC now owns 12,321 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 5,500 shares during the period. Finally, Nordea Investment Management AB boosted its position in Cypress Semiconductor by 80.6% during the third quarter. Nordea Investment Management AB now owns 12,321 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 5,500 shares during the period. 85.79% of the stock is currently owned by institutional investors.
Shares of NASDAQ CY traded down $0.39 during trading hours on Friday, hitting $16.29. 5,251,353 shares of the stock were exchanged, compared to its average volume of 6,038,416. The firm has a market cap 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 Co. has a 12 month low of $12.50 and a 12 month 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.
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 consensus estimate of $0.25 by $0.03. The company had revenue of $597.54 million for the quarter, compared to the consensus estimate of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. Cypress Semiconductor’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. equities research analysts anticipate that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, March 28th. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.
Several equities analysts have recently commented on CY shares. Susquehanna Bancshares began coverage on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. They set a “positive” rating and a $20.00 price objective for the company. Morgan Stanley reissued an “underweight” rating and issued a $14.50 price target on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. Piper Jaffray started coverage on shares of Cypress Semiconductor in a research note on Monday, December 18th. They set an “overweight” rating and a $20.00 target price for the company. Zacks Investment Research downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, BidaskClub upgraded shares of Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. 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 assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.19.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $17.08, for a total value of $51,240.00. Following the completion of the sale, the senior vice president now directly owns 65,445 shares in the company, valued at $1,117,800.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sam Geha sold 20,652 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $17.59, for a total transaction of $363,268.68. Following the completion of the sale, the executive vice president now owns 96,029 shares of the company’s stock, valued at $1,689,150.11. The disclosure for this sale can be found here. Insiders have sold 83,643 shares of company stock valued at $1,478,110 over the last 90 days. 0.69% of the stock is currently owned by company insiders.
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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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