Other analysts also recently issued reports about the company. SunTrust Banks upped their price objective on Cypress Semiconductor to $23.85 in a research note on Tuesday, June 4th. They noted that the move was a valuation call. Piper Jaffray Companies cut Cypress Semiconductor from an overweight rating to a neutral rating in a report on Monday, June 3rd. Mizuho reaffirmed a hold rating and issued a $23.85 target price on shares of Cypress Semiconductor in a research report on Monday, July 29th. Needham & Company LLC lowered Cypress Semiconductor from a buy rating to a hold rating in a research report on Monday, June 3rd. Finally, Susquehanna Bancshares downgraded Cypress Semiconductor from a positive rating to a neutral rating in a research note on Monday, June 3rd. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cypress Semiconductor currently has a consensus rating of Hold and a consensus price target of $20.75.
Shares of NASDAQ:CY traded up $0.02 during trading on Tuesday, reaching $23.40. The stock had a trading volume of 2,100,882 shares, compared to its average volume of 6,080,239. 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 business has a fifty day moving average price of $23.14 and a 200-day moving average price of $20.15. The stock has a market cap of $8.64 billion, a PE ratio of 20.17 and a beta of 1.82. Cypress Semiconductor has a 1-year low of $11.75 and a 1-year high of $23.43.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, September 25th. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $22.93, for a total value of $68,790.00. Following the completion of the transaction, the executive vice president now directly owns 161,604 shares in the company, valued at approximately $3,705,579.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 9,000 shares of company stock valued at $206,280 in the last quarter. Corporate insiders own 0.55% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pentwater Capital Management LP bought a new stake in shares of Cypress Semiconductor in the 2nd quarter worth $227,293,000. TCW Group Inc. grew its position in Cypress Semiconductor by 0.4% during the first quarter. TCW Group Inc. now owns 9,521,143 shares of the semiconductor company’s stock valued at $142,055,000 after acquiring an additional 37,670 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Cypress Semiconductor in the second quarter worth approximately $189,280,000. Alpine Associates Management Inc. bought a new position in shares of Cypress Semiconductor in the second quarter worth approximately $112,558,000. Finally, Omni Partners LLP bought a new stake in Cypress Semiconductor in the second quarter valued at $83,909,000. Hedge funds and other institutional investors own 80.94% of the company’s stock.
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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