Moors & Cabot Inc. Buys New Stake in Cypress Semiconductor Co. (CY)

Moors & Cabot Inc. bought a new stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) in the 1st quarter, Holdings Channel reports. The firm bought 11,900 shares of the semiconductor company’s stock, valued at approximately $170,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Cypress Semiconductor in the fourth quarter worth approximately $48,029,000. Vanguard Group Inc boosted its position in shares of Cypress Semiconductor by 8.2% in the third quarter. Vanguard Group Inc now owns 37,219,787 shares of the semiconductor company’s stock worth $539,316,000 after purchasing an additional 2,820,094 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Cypress Semiconductor by 1,186.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,820,448 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 1,678,971 shares during the period. Millennium Management LLC boosted its position in shares of Cypress Semiconductor by 103.2% in the fourth quarter. Millennium Management LLC now owns 2,865,315 shares of the semiconductor company’s stock worth $36,447,000 after purchasing an additional 1,455,190 shares during the period. Finally, Robecosam AG boosted its position in shares of Cypress Semiconductor by 37.2% in the fourth quarter. Robecosam AG now owns 3,985,000 shares of the semiconductor company’s stock worth $50,410,000 after purchasing an additional 1,080,000 shares during the period. Institutional investors own 81.36% of the company’s stock.

In other news, Director Oc Kwon sold 3,710 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.13, for a total value of $63,552.30. Following the sale, the director now owns 73,113 shares of the company’s stock, valued at $1,252,425.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Trent Thad sold 17,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $15.35, for a total transaction of $260,950.00. Following the completion of the sale, the executive vice president now directly owns 340,117 shares in the company, valued at approximately $5,220,795.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,710 shares of company stock worth $631,872. 0.55% of the stock is owned by insiders.

Several equities analysts have recently commented on CY shares. ValuEngine downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Zacks Investment Research downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Cypress Semiconductor in a report on Monday, April 1st. Craig Hallum reissued a “buy” rating and issued a $18.00 target price (down previously from $20.00) on shares of Cypress Semiconductor in a report on Friday, February 1st. Finally, BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.21.

Cypress Semiconductor stock opened at $15.90 on Thursday. The firm has a market cap of $5.87 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.96. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. Cypress Semiconductor Co. has a 52-week low of $11.75 and a 52-week high of $18.59.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $535.13 million. Cypress Semiconductor had a net margin of 14.97% and a return on equity of 21.23%. Cypress Semiconductor’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that Cypress Semiconductor Co. will post 0.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, June 27th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Wednesday, June 26th. Cypress Semiconductor’s payout ratio is 37.93%.

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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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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