Hodges Capital Management Inc. lessened its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 863,170 shares of the semiconductor company’s stock after selling 89,980 shares during the quarter. Cypress Semiconductor makes up 1.3% of Hodges Capital Management Inc.’s portfolio, making the stock its 19th largest holding. Hodges Capital Management Inc. owned 0.24% of Cypress Semiconductor worth $12,878,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Quantitative Systematic Strategies LLC lifted its stake in shares of Cypress Semiconductor by 49.8% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 54,320 shares of the semiconductor company’s stock valued at $810,000 after buying an additional 18,068 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Cypress Semiconductor by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 938,680 shares of the semiconductor company’s stock valued at $14,005,000 after buying an additional 4,395 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Cypress Semiconductor by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 97,400 shares of the semiconductor company’s stock valued at $1,453,000 after buying an additional 1,300 shares in the last quarter. W.E. Donoghue & Co. LLC purchased a new position in shares of Cypress Semiconductor during the 1st quarter valued at $993,000. Finally, Virtu Financial LLC lifted its stake in shares of Cypress Semiconductor by 83.0% during the 1st quarter. Virtu Financial LLC now owns 36,333 shares of the semiconductor company’s stock valued at $542,000 after buying an additional 16,483 shares in the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.
A number of research firms recently weighed in on CY. Needham & Company LLC lifted their target price on shares of Cypress Semiconductor to $20.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research note on Monday, March 18th. Bank of America reiterated a “buy” rating and issued a $18.00 price target on shares of Cypress Semiconductor in a research note on Thursday, March 14th. MKM Partners boosted their price target on shares of Cypress Semiconductor to $18.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, BidaskClub upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Cypress Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $17.05.
In related news, EVP Trent Thad sold 17,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $15.35, for a total transaction of $260,950.00. Following the transaction, the executive vice president now directly owns 340,117 shares in the company, valued at approximately $5,220,795.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sam Geha sold 5,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $15.90, for a total transaction of $79,500.00. Following the transaction, the executive vice president now owns 120,603 shares in the company, valued at $1,917,587.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,598 shares of company stock worth $609,132. Insiders own 0.55% of the company’s stock.
Shares of Cypress Semiconductor stock traded up $0.06 during trading hours on Monday, reaching $16.15. The company’s stock had a trading volume of 3,139,121 shares, compared to its average volume of 4,099,950. Cypress Semiconductor Co. has a one year low of $11.75 and a one year high of $18.59. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.87 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.92.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. Cypress Semiconductor had a net margin of 14.28% and a return on equity of 22.01%. The firm had revenue of $604.47 million for the quarter, compared to the consensus estimate of $598.72 million. As a group, sell-side analysts expect that Cypress Semiconductor Co. will post 0.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 28th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.72%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.
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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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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