Panagora Asset Management Inc. Has $15.39 Million Position in Cypress Semiconductor Co. (CY)

Panagora Asset Management Inc. increased its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 5,961.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,062,154 shares of the semiconductor company’s stock after buying an additional 1,044,630 shares during the period. Panagora Asset Management Inc. owned about 0.29% of Cypress Semiconductor worth $15,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CY. Bank of Montreal Can increased its position in shares of Cypress Semiconductor by 105.1% in the 2nd quarter. Bank of Montreal Can now owns 45,207 shares of the semiconductor company’s stock worth $704,000 after purchasing an additional 23,169 shares during the last quarter. Hartford Investment Management Co. bought a new stake in shares of Cypress Semiconductor in the 2nd quarter worth about $170,000. Cornerstone Wealth Management LLC bought a new stake in shares of Cypress Semiconductor in the 2nd quarter worth about $290,000. BNP Paribas Arbitrage SA increased its position in shares of Cypress Semiconductor by 138.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 36,596 shares of the semiconductor company’s stock worth $570,000 after purchasing an additional 21,277 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Cypress Semiconductor in the 2nd quarter worth about $1,134,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

CY stock opened at $13.90 on Friday. Cypress Semiconductor Co. has a 52 week low of $11.75 and a 52 week high of $18.87. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.10 and a beta of 2.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.43.

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

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

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $14.00, for a total value of $42,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hassane El-Khoury sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $13.88, for a total transaction of $694,000.00. Following the completion of the sale, the chief executive officer now owns 321,539 shares in the company, valued at $4,462,961.32. The disclosure for this sale can be found here. Insiders sold a total of 59,000 shares of company stock worth $824,170 over the last quarter. Insiders own 0.43% of the company’s stock.

Several research firms have recently weighed in on CY. BidaskClub downgraded shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Jaffray Companies set a $15.00 price target on shares of Cypress Semiconductor and gave the company a “buy” rating in a report on Friday, October 26th. ValuEngine lowered shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a report on Monday, October 8th. Craig Hallum decreased their price target on shares of Cypress Semiconductor from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Roth Capital decreased their price target on shares of Cypress Semiconductor from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.35.

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

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