Essex Investment Management Co. LLC boosted its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 353,321 shares of the semiconductor company’s stock after buying an additional 122,155 shares during the quarter. Cypress Semiconductor Corporation makes up approximately 0.7% of Essex Investment Management Co. LLC’s portfolio, making the stock its 25th largest holding. Essex Investment Management Co. LLC owned about 0.11% of Cypress Semiconductor Corporation worth $5,307,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its holdings in Cypress Semiconductor Corporation by 310.3% during the second quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock valued at $168,875,000 after purchasing an additional 9,356,825 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of Cypress Semiconductor Corporation in the second quarter worth about $83,217,000. JPMorgan Chase & Co. lifted its holdings in shares of Cypress Semiconductor Corporation by 247.2% in the second quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock worth $108,483,000 after buying an additional 5,658,750 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Cypress Semiconductor Corporation by 28.6% in the second quarter. Victory Capital Management Inc. now owns 6,093,906 shares of the semiconductor company’s stock worth $83,181,000 after buying an additional 1,355,795 shares in the last quarter. Finally, ARS Investment Partners LLC purchased a new stake in shares of Cypress Semiconductor Corporation in the second quarter worth about $13,654,000. Institutional investors own 97.27% of the company’s stock.
Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $604.57 million for the quarter, compared to analysts’ expectations of $602.16 million. Cypress Semiconductor Corporation had a positive return on equity of 9.01% and a negative net margin of 5.75%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.
In other Cypress Semiconductor Corporation news, EVP Trent Thad sold 74,818 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $15.77, for a total value of $1,179,879.86. Following the transaction, the executive vice president now owns 172,105 shares of the company’s stock, valued at approximately $2,714,095.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Camillo Martino acquired 10,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $258,400. The disclosure for this purchase can be found here. In the last three months, insiders have bought 60,000 shares of company stock worth $834,100. Corporate insiders own 0.69% of the company’s stock.
A number of brokerages have recently issued reports on CY. Zacks Investment Research downgraded shares of Cypress Semiconductor Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised shares of Cypress Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays PLC downgraded shares of Cypress Semiconductor Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $18.00 to $17.00 in a report on Tuesday. Loop Capital reissued a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Cypress Semiconductor Corporation in a report on Friday, October 27th. Finally, Credit Suisse Group increased their price target on shares of Cypress Semiconductor Corporation from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Cypress Semiconductor Corporation currently has an average rating of “Buy” and a consensus price target of $17.67.
Cypress Semiconductor Corporation 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.
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