Ceredex Value Advisors LLC Invests $62.55 Million in Cypress Semiconductor (CY)

Ceredex Value Advisors LLC acquired a new position in shares of Cypress Semiconductor (NASDAQ:CY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,664,500 shares of the semiconductor company’s stock, valued at approximately $62,554,000. Ceredex Value Advisors LLC owned approximately 1.02% of Cypress Semiconductor as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC boosted its position in Cypress Semiconductor by 6.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,833,578 shares of the semiconductor company’s stock valued at $27,944,000 after purchasing an additional 112,026 shares during the last quarter. Macquarie Group Ltd. boosted its position in Cypress Semiconductor by 1.6% during the fourth quarter. Macquarie Group Ltd. now owns 203,872 shares of the semiconductor company’s stock valued at $3,107,000 after purchasing an additional 3,222 shares during the last quarter. Geode Capital Management LLC boosted its position in Cypress Semiconductor by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 3,065,121 shares of the semiconductor company’s stock valued at $46,712,000 after purchasing an additional 164,409 shares during the last quarter. Swiss National Bank boosted its position in Cypress Semiconductor by 2.8% during the fourth quarter. Swiss National Bank now owns 566,345 shares of the semiconductor company’s stock valued at $8,631,000 after purchasing an additional 15,400 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Cypress Semiconductor during the fourth quarter valued at approximately $12,633,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

In related news, CEO Hassane El-Khoury sold 43,991 shares of Cypress Semiconductor stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total transaction of $774,241.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $18.57, for a total value of $55,710.00. Following the sale, the executive vice president now directly owns 126,125 shares of the company’s stock, valued at $2,342,141.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,643 shares of company stock valued at $1,479,190. 0.43% of the stock is currently owned by insiders.

CY opened at $16.29 on Friday. Cypress Semiconductor has a 12-month low of $16.24 and a 12-month high of $16.49. The company has a market capitalization of $5.83 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 0.97 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.50.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The business had revenue of $582.24 million during the quarter, compared to analysts’ expectations of $580.44 million. Cypress Semiconductor had a positive return on equity of 15.62% and a negative net margin of 1.63%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. equities research analysts anticipate that Cypress Semiconductor will post 1.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 19th. Investors of record on Thursday, June 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $0.44 annualized dividend and a yield of 2.70%. Cypress Semiconductor’s payout ratio is currently 73.33%.

Several research analysts recently commented on CY shares. Piper Jaffray reissued a “buy” rating and set a $22.00 price target on shares of Cypress Semiconductor in a research report on Monday, January 29th. Zacks Investment Research raised Cypress Semiconductor from a “strong sell” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating on shares of Cypress Semiconductor in a research report on Friday, February 2nd. KeyCorp raised their price objective on Cypress Semiconductor from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Craig Hallum raised their price objective on Cypress Semiconductor from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cypress Semiconductor presently has a consensus rating of “Buy” and an average target price of $19.19.

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

Want to see what other hedge funds are holding CY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cypress Semiconductor (NASDAQ:CY).

Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply