Sumitomo Life Insurance Co. Purchases Shares of 17,021 Cypress Semiconductor Co. (CY)

Sumitomo Life Insurance Co. purchased a new stake in Cypress Semiconductor Co. (NASDAQ:CY) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,021 shares of the semiconductor company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $290,000. grace capital purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $156,000. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $159,000. Raymond James Trust N.A. purchased a new position in shares of Cypress Semiconductor in the 3rd quarter valued at $151,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $170,000. Institutional investors own 82.28% of the company’s stock.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $16.04, for a total transaction of $48,120.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 11,017 shares of company stock worth $170,176 in the last ninety days. 0.43% of the stock is currently owned by insiders.

CY has been the topic of a number of research reports. TheStreet raised shares of Cypress Semiconductor from a “c+” rating to a “b” rating in a research note on Friday, July 27th. BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research note on Friday, July 27th. Craig Hallum raised their target price on shares of Cypress Semiconductor from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, MKM Partners initiated coverage on shares of Cypress Semiconductor in a research note on Thursday, October 4th. They issued a “buy” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.86.

Cypress Semiconductor stock opened at $13.22 on Friday. Cypress Semiconductor Co. has a 12-month low of $13.08 and a 12-month high of $18.87. The firm has a market cap of $4.86 billion, a P/E ratio of 14.46, a PEG ratio of 0.82 and a beta of 2.09. The company has a current ratio of 1.37, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The firm had revenue of $624.00 million for the quarter, compared to the consensus estimate of $618.49 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Cypress Semiconductor Co. will post 1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Thursday, September 27th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, September 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is 73.33%.

Cypress Semiconductor 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; 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.

Read More: What is Considered a Good Return on Equity (ROE)?

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 Co. (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