Cornerstone Wealth Management LLC grew its stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 128.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,406 shares of the semiconductor company’s stock after purchasing an additional 5,856 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Cypress Semiconductor were worth $670,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Waddell & Reed Financial Inc. grew its holdings in Cypress Semiconductor by 1.7% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 21,459,257 shares of the semiconductor company’s stock worth $334,335,000 after buying an additional 364,600 shares in the last quarter. Robecosam AG grew its holdings in Cypress Semiconductor by 27.7% in the 2nd quarter. Robecosam AG now owns 3,000,000 shares of the semiconductor company’s stock worth $47,310,000 after buying an additional 650,000 shares in the last quarter. Northern Trust Corp grew its holdings in Cypress Semiconductor by 6.2% in the 2nd quarter. Northern Trust Corp now owns 2,840,723 shares of the semiconductor company’s stock worth $44,258,000 after buying an additional 165,345 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Cypress Semiconductor by 8.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,459,194 shares of the semiconductor company’s stock worth $38,315,000 after buying an additional 183,130 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Cypress Semiconductor by 18.6% in the 2nd quarter. First Trust Advisors LP now owns 2,402,988 shares of the semiconductor company’s stock worth $37,439,000 after buying an additional 377,554 shares in the last quarter. 82.65% of the stock is owned by institutional investors.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $16.04, for a total transaction of $48,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 9,000 shares of company stock valued at $136,290. 0.43% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on CY. Barclays reissued a “hold” rating and issued a $18.00 price objective on shares of Cypress Semiconductor in a report on Sunday, July 29th. Zacks Investment Research raised Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Wednesday, August 1st. TheStreet raised Cypress Semiconductor from a “c+” rating to a “b” rating in a report on Friday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Friday, July 27th. Finally, Craig Hallum increased their price objective on Cypress Semiconductor from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.46.
Shares of NASDAQ CY opened at $13.51 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.76. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.07 and a beta of 2.09. Cypress Semiconductor Co. has a 1 year low of $11.75 and a 1 year high of $18.87.
Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 25th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $673.04 million during the quarter, compared to analyst estimates of $669.62 million. Cypress Semiconductor had a return on equity of 21.26% and a net margin of 2.08%. Equities research analysts forecast that Cypress Semiconductor Co. will post 1.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Thursday, September 27th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, September 26th. Cypress Semiconductor’s payout ratio is currently 73.33%.
Cypress Semiconductor Company 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.
Featured Article: Why do companies issue stock splits?
Want to see what other hedge funds are holding CY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cypress Semiconductor Co. (NASDAQ:CY).
Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.