Dimensional Fund Advisors LP trimmed its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,309,215 shares of the semiconductor company’s stock after selling 280,057 shares during the period. Dimensional Fund Advisors LP owned about 0.92% of Cypress Semiconductor worth $56,124,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Cypress Semiconductor by 10.1% in the fourth quarter. Aperio Group LLC now owns 75,176 shares of the semiconductor company’s stock valued at $1,146,000 after purchasing an additional 6,919 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Cypress Semiconductor by 316.1% in the fourth quarter. Teacher Retirement System of Texas now owns 112,679 shares of the semiconductor company’s stock valued at $1,717,000 after acquiring an additional 85,596 shares during the period. Sei Investments Co. boosted its holdings in shares of Cypress Semiconductor by 1.8% in the fourth quarter. Sei Investments Co. now owns 585,207 shares of the semiconductor company’s stock valued at $8,919,000 after acquiring an additional 10,165 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Cypress Semiconductor by 13.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 552,643 shares of the semiconductor company’s stock valued at $8,422,000 after acquiring an additional 65,371 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Cypress Semiconductor by 27.4% in the fourth quarter. Arizona State Retirement System now owns 240,170 shares of the semiconductor company’s stock valued at $3,660,000 after acquiring an additional 51,682 shares during the period. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Cowen assumed coverage on Cypress Semiconductor in a report on Tuesday, May 22nd. They issued an “outperform” rating and a $21.00 price objective for the company. Zacks Investment Research raised Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, May 1st. Mizuho reissued a “buy” rating on shares of Cypress Semiconductor in a report on Friday, April 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Friday, April 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Cypress Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $19.42.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $17.60, for a total value of $52,800.00. Following the sale, the executive vice president now directly owns 119,342 shares of the company’s stock, valued at approximately $2,100,419.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hassane El-Khoury purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 30th. The stock was acquired at an average cost of $15.03 per share, for a total transaction of $150,300.00. Following the completion of the purchase, the chief executive officer now owns 310,349 shares in the company, valued at approximately $4,664,545.47. The disclosure for this purchase can be found here. Over the last three months, insiders sold 24,718 shares of company stock worth $416,559. 0.43% of the stock is owned by corporate insiders.
Shares of Cypress Semiconductor opened at $17.09 on Friday, Marketbeat.com reports. Cypress Semiconductor Co. has a fifty-two week low of $12.50 and a fifty-two week high of $18.87. The firm has a market capitalization of $6.16 billion, a PE ratio of 21.76, a PEG ratio of 1.03 and a beta of 2.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 0.87.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $582.24 million during the quarter, compared to analysts’ expectations of $580.44 million. Cypress Semiconductor had a positive return on equity of 15.62% and a negative net margin of 1.63%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. sell-side analysts anticipate that Cypress Semiconductor Co. will post 1.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Thursday, June 28th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, June 27th. Cypress Semiconductor’s payout ratio is 73.33%.
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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