Parametric Portfolio Associates LLC increased its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 9.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 857,594 shares of the semiconductor company’s stock after purchasing an additional 76,021 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.26% of Cypress Semiconductor worth $12,881,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Cypress Semiconductor by 15.8% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock valued at $23,180,000 after acquiring an additional 210,992 shares in the last quarter. HAP Trading LLC acquired a new position in Cypress Semiconductor in the 3rd quarter valued at approximately $5,386,000. Westfield Capital Management Co. LP acquired a new position in Cypress Semiconductor in the 3rd quarter valued at approximately $53,009,000. Brookstone Capital Management raised its holdings in Cypress Semiconductor by 33.1% in the 3rd quarter. Brookstone Capital Management now owns 27,370 shares of the semiconductor company’s stock valued at $411,000 after acquiring an additional 6,806 shares in the last quarter. Finally, Phocas Financial Corp. raised its holdings in Cypress Semiconductor by 4.5% in the 2nd quarter. Phocas Financial Corp. now owns 990,222 shares of the semiconductor company’s stock valued at $13,517,000 after acquiring an additional 42,607 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.
CY has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Cypress Semiconductor in a report on Friday, October 27th. BidaskClub cut Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 21st. SunTrust Banks reiterated a “buy” rating and issued a $19.00 price objective on shares of Cypress Semiconductor in a research note on Thursday, October 12th. Bank of America reiterated a “buy” rating on shares of Cypress Semiconductor in a research note on Sunday, October 1st. Finally, Loop Capital reiterated a “buy” rating and issued a $20.00 price objective (up from $17.00) on shares of Cypress Semiconductor in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.04.
Cypress Semiconductor Co. (NASDAQ:CY) opened at $15.24 on Monday. The company has a market capitalization of $5,085.05, a price-to-earnings ratio of -38.10, a price-to-earnings-growth ratio of 2.75 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. Cypress Semiconductor Co. has a 12-month low of $10.99 and a 12-month high of $17.42.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The firm had revenue of $604.57 million for the quarter, compared to analyst estimates of $602.16 million. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. equities research analysts predict that Cypress Semiconductor Co. will post 0.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Thursday, December 28th will be given a $0.11 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.89%. Cypress Semiconductor’s payout ratio is -110.00%.
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Cypress Semiconductor 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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