Huntington National Bank Trims Holdings in Cypress Semiconductor Co. (CY)

Huntington National Bank lessened its position in Cypress Semiconductor Co. (NASDAQ:CY) by 15.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,036 shares of the semiconductor company’s stock after selling 1,618 shares during the period. Huntington National Bank’s holdings in Cypress Semiconductor were worth $135,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CY. Essex Savings Bank acquired a new stake in Cypress Semiconductor in the fourth quarter valued at approximately $25,000. Loeb Partners Corp purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at approximately $25,000. Resources Investment Advisors Inc. boosted its position in shares of Cypress Semiconductor by 52.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 686 shares during the last quarter. PRW Wealth Management LLC purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at approximately $25,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Cypress Semiconductor during the fourth quarter valued at approximately $36,000. 82.40% of the stock is owned by hedge funds and other institutional investors.

CY has been the topic of several analyst reports. MKM Partners lifted their target price on Cypress Semiconductor to $18.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Bank of America reaffirmed a “buy” rating and set a $18.00 target price on shares of Cypress Semiconductor in a research report on Thursday, March 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of Cypress Semiconductor in a research report on Thursday, March 14th. BidaskClub raised Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Cypress Semiconductor in a research report on Friday, February 1st. Two 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’s stock. Cypress Semiconductor currently has a consensus rating of “Buy” and an average target price of $17.05.

Shares of Cypress Semiconductor stock opened at $16.15 on Tuesday. The firm has a market cap of $5.87 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.89 and a beta of 1.92. Cypress Semiconductor Co. has a 12 month low of $11.75 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.64.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, January 31st. The semiconductor company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The business had revenue of $604.47 million for the quarter, compared to analyst estimates of $598.72 million. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. Research analysts anticipate that Cypress Semiconductor Co. will post 0.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.72%. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.

In other Cypress Semiconductor news, EVP Sam Geha sold 5,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $15.90, for a total value of $79,500.00. Following the sale, the executive vice president now directly owns 120,603 shares in the company, valued at $1,917,587.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $15.58, for a total value of $46,740.00. Following the completion of the sale, the executive vice president now owns 139,556 shares in the company, valued at $2,174,282.48. The disclosure for this sale can be found here. Insiders have sold 40,598 shares of company stock worth $609,132 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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About Cypress Semiconductor

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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Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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