Oppenheimer & Co. Inc. lessened its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 93.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,702 shares of the semiconductor company’s stock after selling 185,511 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cypress Semiconductor were worth $282,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CY. Wealthcare Capital Management LLC bought a new position in shares of Cypress Semiconductor in the second quarter worth approximately $111,000. ETF Managers Group LLC lifted its position in Cypress Semiconductor by 8.6% during the first quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 680 shares during the period. Equitec Specialists LLC bought a new position in Cypress Semiconductor during the second quarter valued at approximately $191,000. NN Investment Partners Holdings N.V. bought a new position in Cypress Semiconductor during the second quarter valued at approximately $191,000. Finally, Alpha Cubed Investments LLC bought a new position in Cypress Semiconductor during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
A number of brokerages recently weighed in on CY. BidaskClub downgraded shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research report on Tuesday. SunTrust Banks increased their price objective on shares of Cypress Semiconductor to $23.85 in a research report on Tuesday, June 4th. They noted that the move was a valuation call. Mizuho restated a “hold” rating and set a $23.85 price objective on shares of Cypress Semiconductor in a research report on Monday, July 29th. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Needham & Company LLC downgraded shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Cypress Semiconductor currently has an average rating of “Hold” and a consensus price target of $20.75.
Shares of NASDAQ CY traded up $0.01 during midday trading on Friday, reaching $23.34. The stock had a trading volume of 41,173 shares, compared to its average volume of 4,287,646. The stock has a 50-day moving average of $22.93 and a 200-day moving average of $19.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.31 and a current ratio of 1.91. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 20.12 and a beta of 1.85. Cypress Semiconductor Co. has a 12-month low of $11.75 and a 12-month high of $23.38.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data 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 firm had revenue of $532.20 million during the quarter, compared to analysts’ expectations of $530.96 million. Cypress Semiconductor had a return on equity of 19.36% and a net margin of 13.83%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, analysts forecast that Cypress Semiconductor Co. will post 0.9 EPS for the current fiscal 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 paid a $0.11 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.89%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.
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; 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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