TCW Group Inc. lifted its holdings in Cypress Semiconductor Corporation (NASDAQ:CY) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,463,003 shares of the semiconductor company’s stock after purchasing an additional 1,628,930 shares during the period. Cypress Semiconductor Corporation comprises approximately 1.6% of TCW Group Inc.’s holdings, making the stock its 14th biggest position. TCW Group Inc. owned approximately 4.03% of Cypress Semiconductor Corporation worth $202,214,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in Cypress Semiconductor Corporation by 0.8% in the 2nd quarter. BlackRock Inc. now owns 27,848,587 shares of the semiconductor company’s stock worth $380,133,000 after acquiring an additional 231,335 shares in the last quarter. FMR LLC increased its holdings in Cypress Semiconductor Corporation by 310.3% in the 2nd quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock worth $168,875,000 after acquiring an additional 9,356,825 shares in the last quarter. State Street Corp grew its holdings in Cypress Semiconductor Corporation by 3.4% during the 2nd quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock valued at $125,265,000 after buying an additional 302,001 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Cypress Semiconductor Corporation by 4.4% during the 2nd quarter. Alliancebernstein L.P. now owns 8,959,470 shares of the semiconductor company’s stock valued at $122,297,000 after buying an additional 380,718 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cypress Semiconductor Corporation by 247.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock valued at $108,483,000 after buying an additional 5,658,750 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.
CY has been the subject of a number of research analyst reports. Craig Hallum increased their price objective on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, July 28th. Mizuho reissued a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor Corporation in a report on Tuesday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a report on Friday, October 27th. Credit Suisse Group raised their target price on shares of Cypress Semiconductor Corporation from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, BidaskClub raised shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.67.
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In other news, Director Camillo Martino purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $258,400. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Catherine P. Lego purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $13.69 per share, for a total transaction of $273,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 60,000 shares of company stock worth $834,100. Insiders own 0.69% of the company’s stock.
Cypress Semiconductor Corporation (NASDAQ CY) traded down $0.05 during trading hours on Tuesday, hitting $16.92. The stock had a trading volume of 5,674,900 shares, compared to its average volume of 6,369,911. 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 market capitalization of $5,662.29, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 3.06 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.35.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the 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 Corporation had a positive return on equity of 9.01% and a negative net margin of 5.75%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. analysts forecast that Cypress Semiconductor Corporation will post 0.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.60%. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.
Cypress Semiconductor Corporation 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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