OppenheimerFunds Inc. cut its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 96.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,246 shares of the semiconductor company’s stock after selling 1,055,852 shares during the quarter. OppenheimerFunds Inc.’s holdings in Cypress Semiconductor were worth $659,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CY. Villere ST Denis J & Co. LLC acquired a new stake in Cypress Semiconductor during the fourth quarter valued at approximately $69,678,000. Westfield Capital Management Co. LP acquired a new stake in Cypress Semiconductor during the third quarter valued at approximately $53,009,000. Ameriprise Financial Inc. boosted its holdings in Cypress Semiconductor by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock valued at $184,179,000 after purchasing an additional 3,116,871 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cypress Semiconductor by 113.9% during the fourth quarter. First Trust Advisors LP now owns 1,871,612 shares of the semiconductor company’s stock valued at $28,523,000 after purchasing an additional 996,755 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Cypress Semiconductor by 33.2% during the third quarter. Neuberger Berman Group LLC now owns 2,478,865 shares of the semiconductor company’s stock valued at $37,233,000 after purchasing an additional 618,013 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on CY. Craig Hallum reissued a “buy” rating and issued a $21.00 target price on shares of Cypress Semiconductor in a report on Tuesday, December 5th. Susquehanna Bancshares began coverage on Cypress Semiconductor in a report on Wednesday, December 13th. They issued a “positive” rating and a $20.00 target price on the stock. SunTrust Banks reissued a “hold” rating and issued a $19.00 target price on shares of Cypress Semiconductor in a report on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating on shares of Cypress Semiconductor in a report on Friday, February 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Cypress Semiconductor currently has an average rating of “Buy” and a consensus target price of $19.04.
In related news, CEO Hassane El-Khoury sold 43,991 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $17.60, for a total value of $774,241.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $17.08, for a total transaction of $51,240.00. Following the sale, the senior vice president now owns 65,445 shares of the company’s stock, valued at approximately $1,117,800.60. The disclosure for this sale can be found here. Insiders sold a total of 83,643 shares of company stock valued at $1,478,110 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
Cypress Semiconductor Co. (NASDAQ:CY) opened at $17.97 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.22 and a debt-to-equity ratio of 0.53. Cypress Semiconductor Co. has a 1 year low of $12.50 and a 1 year high of $18.87. The firm has a market cap of $6,602.78, a P/E ratio of -64.18, a P/E/G ratio of 1.19 and a beta of 2.07.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.48%. The firm had revenue of $597.54 million during the quarter, compared to analysts’ expectations of $593.15 million. During the same quarter in the previous year, the company posted $0.15 EPS. Cypress Semiconductor’s revenue was up 12.7% on a year-over-year basis. analysts expect that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, March 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, March 28th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -157.14%.
Cypress Semiconductor Company Profile
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
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.