TD Asset Management Inc. Reduces Holdings in Cypress Semiconductor Co. (NASDAQ:CY)

TD Asset Management Inc. cut its stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 25.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,882,169 shares of the semiconductor company’s stock after selling 627,910 shares during the quarter. TD Asset Management Inc. owned 0.51% of Cypress Semiconductor worth $41,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Cypress Semiconductor by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 3,953,810 shares of the semiconductor company’s stock worth $50,292,000 after buying an additional 488,965 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Cypress Semiconductor by 22.4% in the 1st quarter. State of Alaska Department of Revenue now owns 51,794 shares of the semiconductor company’s stock valued at $771,000 after purchasing an additional 9,464 shares during the period. Virtu Financial LLC lifted its stake in shares of Cypress Semiconductor by 83.0% in the 1st quarter. Virtu Financial LLC now owns 36,333 shares of the semiconductor company’s stock valued at $542,000 after purchasing an additional 16,483 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Cypress Semiconductor by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 97,400 shares of the semiconductor company’s stock valued at $1,453,000 after purchasing an additional 1,300 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of Cypress Semiconductor by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 938,680 shares of the semiconductor company’s stock valued at $14,005,000 after purchasing an additional 4,395 shares during the period. Institutional investors own 78.71% of the company’s stock.

In other news, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $22.16, for a total transaction of $443,200.00. Following the completion of the sale, the chief executive officer now owns 521,745 shares in the company, valued at $11,561,869.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sam Geha sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $22.39, for a total value of $111,950.00. Following the sale, the executive vice president now owns 115,655 shares of the company’s stock, valued at approximately $2,589,515.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,000 shares of company stock valued at $1,135,440. Corporate insiders own 0.55% of the company’s stock.



A number of research analysts recently weighed in on the company. Roth Capital lowered Cypress Semiconductor from a “buy” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Monday, June 3rd. ValuEngine raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, July 30th. Craig Hallum cut shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Finally, BidaskClub raised shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cypress Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $20.75.

Shares of CY stock traded up $0.01 during trading on Thursday, hitting $22.84. 47,356 shares of the company were exchanged, compared to its average volume of 5,752,043. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.91 and a quick ratio of 1.31. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.55 and a beta of 1.86. The business’s 50-day moving average is $22.56. Cypress Semiconductor Co. has a twelve month low of $11.75 and a twelve month high of $23.11.

Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $532.20 million during the quarter, compared to analyst estimates of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. Cypress Semiconductor’s revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. On average, equities analysts predict that Cypress Semiconductor Co. will post 0.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.93%. Cypress Semiconductor’s dividend payout ratio is 37.93%.

Cypress Semiconductor Company 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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