Cypress Semiconductor Corp. (NASDAQ:CY) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 38,718,852 shares, a drop of 7.1% from the August 15th total of 41,657,288 shares. Based on an average daily volume of 5,645,699 shares, the days-to-cover ratio is currently 6.9 days. Currently, 12.6% of the company’s shares are sold short.

Cypress Semiconductor Corp. (NASDAQ:CY) opened at 11.90 on Thursday. The firm’s 50-day moving average is $11.55 and its 200-day moving average is $10.16. The firm’s market capitalization is $3.82 billion. Cypress Semiconductor Corp. has a 1-year low of $6.30 and a 1-year high of $12.48.

Cypress Semiconductor Corp. (NASDAQ:CY) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business earned $450.10 million during the quarter, compared to the consensus estimate of $455.15 million. Cypress Semiconductor Corp. had a negative net margin of 37.59% and a positive return on equity of 3.26%. Cypress Semiconductor Corp.’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities analysts anticipate that Cypress Semiconductor Corp. will post $0.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 29th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, September 27th. Cypress Semiconductor Corp.’s dividend payout ratio is currently -20.85%.

CY has been the topic of several recent research reports. Zacks Investment Research lowered shares of Cypress Semiconductor Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Pacific Crest boosted their price objective on shares of Cypress Semiconductor Corp. from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Roth Capital initiated coverage on shares of Cypress Semiconductor Corp. in a report on Wednesday, August 31st. They issued a “buy” rating and a $13.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Cypress Semiconductor Corp. in a report on Monday, August 15th. Finally, Craig Hallum boosted their price objective on shares of Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Cypress Semiconductor Corp. has an average rating of “Buy” and an average target price of $11.43.

In related news, Director H Raymond Bingham sold 15,000 shares of Cypress Semiconductor Corp. stock in a transaction on Friday, July 1st. The shares were sold at an average price of $10.40, for a total transaction of $156,000.00. Following the transaction, the director now owns 40,276 shares in the company, valued at approximately $418,870.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corp. stock in a transaction on Monday, September 19th. The shares were sold at an average price of $11.83, for a total transaction of $591,500.00. Following the transaction, the director now owns 218,538 shares in the company, valued at approximately $2,585,304.54. The disclosure for this sale can be found here. 6.33% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Cypress Semiconductor Corp. by 563.1% in the first quarter. Envestnet Asset Management Inc. now owns 53,837 shares of the company’s stock worth $466,000 after buying an additional 45,718 shares during the period. Legal & General Group Plc increased its stake in shares of Cypress Semiconductor Corp. by 21.8% in the first quarter. Legal & General Group Plc now owns 35,261 shares of the company’s stock worth $305,000 after buying an additional 6,305 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Cypress Semiconductor Corp. by 7.3% in the first quarter. Nuveen Asset Management LLC now owns 746,148 shares of the company’s stock worth $6,462,000 after buying an additional 50,705 shares during the period. Geode Capital Management LLC increased its stake in shares of Cypress Semiconductor Corp. by 3.4% in the first quarter. Geode Capital Management LLC now owns 2,140,486 shares of the company’s stock worth $18,536,000 after buying an additional 69,560 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in shares of Cypress Semiconductor Corp. by 4.9% in the first quarter. Loomis Sayles & Co. L P now owns 1,700,082 shares of the company’s stock worth $14,723,000 after buying an additional 79,140 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Cypress Semiconductor Corp. Company Profile

Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.

5 Day Chart for NASDAQ:CY

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