10,220,000 Shares in Cypress Semiconductor Co. (NASDAQ:CY) Acquired by Pentwater Capital Management LP

Pentwater Capital Management LP acquired a new position in shares of Cypress Semiconductor Co. (NASDAQ:CY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,220,000 shares of the semiconductor company’s stock, valued at approximately $227,293,000. Cypress Semiconductor makes up 2.4% of Pentwater Capital Management LP’s portfolio, making the stock its 7th biggest position. Pentwater Capital Management LP owned about 2.77% of Cypress Semiconductor as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CY. Advisor Group Inc. increased its stake in Cypress Semiconductor by 1.5% during the 2nd quarter. Advisor Group Inc. now owns 45,066 shares of the semiconductor company’s stock valued at $1,002,000 after purchasing an additional 676 shares in the last quarter. ETF Managers Group LLC increased its stake in Cypress Semiconductor by 8.6% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cypress Semiconductor by 4.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,780 shares of the semiconductor company’s stock valued at $529,000 after purchasing an additional 1,018 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Cypress Semiconductor by 1.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 72,634 shares of the semiconductor company’s stock valued at $1,615,000 after purchasing an additional 1,034 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in Cypress Semiconductor by 0.5% during the 1st quarter. MetLife Investment Advisors LLC now owns 221,805 shares of the semiconductor company’s stock valued at $3,309,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s stock.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $22.45, for a total transaction of $67,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of Cypress Semiconductor stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.32, for a total transaction of $446,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,000 shares of company stock valued at $652,680. 0.55% of the stock is owned by company insiders.



A number of research firms have recently weighed in on CY. Roth Capital lowered shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $24.00 in a research note on Monday, June 3rd. Needham & Company LLC lowered shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. ValuEngine upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Susquehanna Bancshares lowered shares of Cypress Semiconductor from a “positive” rating to a “neutral” rating in a research note on Monday, June 3rd. Finally, BidaskClub lowered shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.75.

CY traded up $0.05 during midday trading on Friday, hitting $23.30. 1,343,712 shares of the company traded hands, compared to its average volume of 4,691,123. The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 20.08 and a beta of 1.85. Cypress Semiconductor Co. has a 52-week low of $11.75 and a 52-week 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 $19.54.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The company had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Cypress Semiconductor Co. will post 0.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, September 25th. Cypress Semiconductor’s payout ratio is currently 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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Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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