Cypress Semiconductor Corporation (NASDAQ:CY) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 29,499,736 shares, a decrease of 8.0% from the October 13th total of 32,052,641 shares. Approximately 9.2% of the shares of the stock are short sold. Based on an average daily volume of 4,815,414 shares, the days-to-cover ratio is currently 6.1 days.
Shares of Cypress Semiconductor Corporation (CY) opened at $16.78 on Wednesday. Cypress Semiconductor Corporation has a fifty-two week low of $10.51 and a fifty-two week high of $17.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. The firm has a market capitalization of $5,645.61, a PE ratio of 35.25, a PEG ratio of 3.05 and a beta of 2.02.
Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm had revenue of $604.57 million for the quarter, compared to analysts’ expectations of $602.16 million. Cypress Semiconductor Corporation had a positive return on equity of 9.01% and a negative net margin of 5.75%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Thursday, December 28th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.
Several research firms have issued reports on CY. Mizuho reissued a “buy” rating and set a $17.00 target price on shares of Cypress Semiconductor Corporation in a research note on Tuesday, August 29th. KeyCorp set a $17.00 target price on Cypress Semiconductor Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Barclays PLC raised Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Loop Capital reissued a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Cypress Semiconductor Corporation in a research note on Friday, October 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor Corporation in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.67.
In other news, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $258,400. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Sam Geha sold 8,269 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $16.70, for a total value of $138,092.30. Following the completion of the transaction, the senior vice president now owns 63,000 shares in the company, valued at approximately $1,052,100. The disclosure for this sale can be found here. Insiders have acquired 60,000 shares of company stock worth $834,100 in the last quarter. 0.69% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CY. San Francisco Sentry Investment Group CA increased its position in Cypress Semiconductor Corporation by 1,061.4% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 6,655 shares of the semiconductor company’s stock worth $100,000 after purchasing an additional 6,082 shares during the period. Ffcm LLC increased its position in Cypress Semiconductor Corporation by 139.2% during the 2nd quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 4,740 shares during the period. IFP Advisors Inc increased its position in Cypress Semiconductor Corporation by 13.3% during the 2nd quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,014 shares during the period. ING Groep NV acquired a new position in Cypress Semiconductor Corporation during the 2nd quarter worth approximately $138,000. Finally, Thompson Davis & CO. Inc. increased its position in Cypress Semiconductor Corporation by 45.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 3,169 shares during the period. Hedge funds and other institutional investors own 97.58% of the company’s stock.
Cypress Semiconductor Corporation Company Profile
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
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