Cypress Semiconductor Co. (CY) Position Raised by Swiss National Bank

Swiss National Bank increased its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 594,045 shares of the semiconductor company’s stock after acquiring an additional 6,900 shares during the quarter. Swiss National Bank’s holdings in Cypress Semiconductor were worth $8,608,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Prudential Financial Inc. lifted its stake in Cypress Semiconductor by 40.4% during the third quarter. Prudential Financial Inc. now owns 4,121,848 shares of the semiconductor company’s stock worth $59,726,000 after purchasing an additional 1,186,360 shares during the last quarter. Strategic Wealth Advisors Group LLC acquired a new position in Cypress Semiconductor during the third quarter worth approximately $1,334,000. Thompson Investment Management Inc. acquired a new position in Cypress Semiconductor during the third quarter worth approximately $449,000. Stone Ridge Asset Management LLC increased its position in Cypress Semiconductor by 123.7% during the third quarter. Stone Ridge Asset Management LLC now owns 42,407 shares of the semiconductor company’s stock worth $614,000 after buying an additional 23,450 shares during the period. Finally, Brookstone Capital Management increased its position in Cypress Semiconductor by 13.3% during the third quarter. Brookstone Capital Management now owns 37,458 shares of the semiconductor company’s stock worth $543,000 after buying an additional 4,411 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $14.00, for a total transaction of $42,000.00. Following the transaction, the executive vice president now owns 111,157 shares of the company’s stock, valued at $1,556,198. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 50,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $13.88, for a total value of $694,000.00. Following the transaction, the chief executive officer now directly owns 321,539 shares in the company, valued at approximately $4,462,961.32. The disclosure for this sale can be found here. Insiders have sold 59,000 shares of company stock worth $824,170 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Several research analysts have commented on CY shares. ValuEngine lowered Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. BidaskClub raised Cypress Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. Roth Capital dropped their target price on Cypress Semiconductor from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Cowen dropped their target price on Cypress Semiconductor from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. Finally, Morgan Stanley dropped their target price on Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday, September 24th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.35.

NASDAQ:CY opened at $13.90 on Friday. The company has a market capitalization of $5.01 billion, a PE ratio of 23.17, a P/E/G ratio of 1.10 and a beta of 2.09. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46. Cypress Semiconductor Co. has a 12-month low of $11.75 and a 12-month high of $18.87.

Cypress Semiconductor (NASDAQ:CY) last released its earnings results on Thursday, October 25th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. The business had revenue of $673.04 million for the quarter, compared to analyst estimates of $669.62 million. Cypress Semiconductor had a return on equity of 21.26% and a net margin of 2.08%. Equities analysts predict that Cypress Semiconductor Co. will post 1.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Thursday, December 27th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, December 26th. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.

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

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