Parametric Portfolio Associates LLC cut its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 971,255 shares of the semiconductor company’s stock after selling 189,013 shares during the quarter. Parametric Portfolio Associates LLC owned 0.26% of Cypress Semiconductor worth $21,601,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Cypress Semiconductor by 14.1% in the 4th 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 in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Cypress Semiconductor during the first quarter worth $170,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Cypress Semiconductor by 1.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 144,504 shares of the semiconductor company’s stock worth $2,156,000 after acquiring an additional 1,387 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Cypress Semiconductor by 8.6% during the first quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 680 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of Cypress Semiconductor by 1.0% during the first quarter. TD Asset Management Inc. now owns 2,510,079 shares of the semiconductor company’s stock worth $37,450,000 after acquiring an additional 24,900 shares in the last quarter. 80.94% of the stock is owned by hedge funds and other institutional investors.
CY traded down $0.03 during midday trading on Thursday, reaching $23.28. 221,592 shares of the company’s stock were exchanged, compared to its average volume of 4,664,409. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 20.08 and a beta of 1.85. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.41. Cypress Semiconductor Co. has a one year low of $11.75 and a one year high of $23.40. The business has a 50-day simple moving average of $22.99 and a two-hundred day simple moving average of $19.50.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors 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 yield of 1.89%. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.
Several analysts recently issued reports on the company. MKM Partners reiterated a “neutral” rating and set a $23.85 price objective (up from $20.00) on shares of Cypress Semiconductor in a report on Tuesday, June 4th. Needham & Company LLC lowered Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 30th. ValuEngine upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Roth Capital lowered Cypress Semiconductor from a “buy” rating to a “neutral” rating and raised their target price for the company from $20.00 to $24.00 in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.75.
In other Cypress Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.32, for a total transaction of $446,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $23.38, for a total transaction of $70,140.00. Following the transaction, the executive vice president now owns 158,604 shares in the company, valued at approximately $3,708,161.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,000 shares of company stock worth $652,680. 0.55% of the stock is owned by company insiders.
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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