Banco de Sabadell S.A acquired a new stake in Cypress Semiconductor Co. (NASDAQ:CY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 62,402 shares of the semiconductor company’s stock, valued at approximately $978,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Institutional & Family Asset Management LLC acquired a new position in shares of Cypress Semiconductor in the 1st quarter valued at about $132,000. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $159,000. Hartford Investment Management Co. acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $170,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $171,000. Finally, Private Advisor Group LLC acquired a new position in shares of Cypress Semiconductor in the 1st quarter valued at about $180,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Sudhir Gopalswamy sold 2,017 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $16.80, for a total value of $33,885.60. Following the completion of the sale, the executive vice president now owns 122,174 shares in the company, valued at $2,052,523.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 11,017 shares of company stock valued at $177,676. Insiders own 0.43% of the company’s stock.
Several research firms recently commented on CY. MKM Partners began coverage on Cypress Semiconductor in a research report on Thursday. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research lowered Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, September 26th. Morgan Stanley reduced their price target on Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, September 24th. BidaskClub raised Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, September 22nd. Finally, ValuEngine lowered Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $19.86.
CY traded down $0.56 during trading on Friday, reaching $13.73. 8,519,237 shares of the company were exchanged, compared to its average volume of 5,602,169. Cypress Semiconductor Co. has a 52 week low of $13.61 and a 52 week high of $18.87. The company has a market cap of $5.24 billion, a P/E ratio of 22.88, a PEG ratio of 0.85 and a beta of 2.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 0.94.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Cypress Semiconductor had a return on equity of 18.51% and a net margin of 0.49%. The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $618.49 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Cypress Semiconductor Co. will post 1.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Thursday, September 27th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, September 26th. This represents a $0.44 annualized dividend and a dividend yield of 3.20%. Cypress Semiconductor’s dividend payout ratio (DPR) is 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.
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