Avalon Advisors LLC boosted its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,075,819 shares of the semiconductor company’s stock after buying an additional 18,596 shares during the period. Avalon Advisors LLC’s holdings in Cypress Semiconductor were worth $18,246,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CY. TIAA CREF Investment Management LLC raised its position in Cypress Semiconductor by 6.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,833,578 shares of the semiconductor company’s stock valued at $27,944,000 after purchasing an additional 112,026 shares during the period. Macquarie Group Ltd. raised its position 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 purchasing an additional 3,222 shares during the period. Geode Capital Management LLC raised its position in Cypress Semiconductor by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 3,065,121 shares of the semiconductor company’s stock valued at $46,712,000 after purchasing an additional 164,409 shares during the period. HBK Investments L P raised its position in Cypress Semiconductor by 17.6% during the fourth quarter. HBK Investments L P now owns 368,470 shares of the semiconductor company’s stock valued at $5,615,000 after purchasing an additional 55,195 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Cypress Semiconductor during the fourth quarter valued at approximately $890,000. 84.91% of the stock is owned by institutional investors.
Shares of Cypress Semiconductor traded up $0.14, hitting $16.54, during midday trading on Tuesday, according to Marketbeat Ratings. The company’s stock had a trading volume of 150,862 shares, compared to its average volume of 4,348,478. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 1.27. Cypress Semiconductor Co. has a 12-month low of $12.50 and a 12-month high of $18.87. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.02 and a beta of 2.09.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $582.24 million for the quarter, compared to the consensus estimate of $580.44 million. Cypress Semiconductor had a positive return on equity of 15.62% and a negative net margin of 1.63%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. sell-side analysts predict that Cypress Semiconductor Co. will post 1.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Thursday, June 28th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, June 27th. This represents a $0.44 annualized dividend and a yield of 2.66%. Cypress Semiconductor’s payout ratio is currently 73.33%.
CY has been the topic of a number of recent research reports. Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, May 1st. Mizuho restated a “buy” rating on shares of Cypress Semiconductor in a research report on Friday, April 27th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Cypress Semiconductor in a report on Friday, April 27th. Cowen assumed coverage on Cypress Semiconductor in a report on Tuesday, May 22nd. They issued an “outperform” rating and a $21.00 price target on the stock. Finally, BidaskClub downgraded Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Cypress Semiconductor currently has an average rating of “Buy” and a consensus target price of $19.42.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $17.24, for a total transaction of $51,720.00. Following the transaction, the executive vice president now directly owns 123,125 shares in the company, valued at approximately $2,122,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hassane El-Khoury acquired 10,000 shares of Cypress Semiconductor stock in a transaction on Monday, April 30th. The shares were purchased at an average price of $15.03 per share, for a total transaction of $150,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 310,349 shares in the company, valued at $4,664,545.47. The disclosure for this purchase can be found here. Insiders have sold a total of 25,266 shares of company stock worth $425,787 over the last 90 days. 0.43% of the stock is currently owned by company insiders.
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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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