Insider Selling: Cypress Semiconductor Corp. (CY) CFO Sells $134,743.70 in Stock
Cypress Semiconductor Corp. (NASDAQ:CY) CFO Trent Thad sold 11,390 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $11.83, for a total value of $134,743.70. Following the completion of the sale, the chief financial officer now owns 181,606 shares of the company’s stock, valued at approximately $2,148,398.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Cypress Semiconductor Corp. (NASDAQ:CY) opened at 10.82 on Monday. The stock has a 50 day moving average price of $11.72 and a 200 day moving average price of $10.51. The company’s market capitalization is $3.48 billion. Cypress Semiconductor Corp. has a 52-week low of $6.30 and a 52-week high of $12.48.
Cypress Semiconductor Corp. (NASDAQ:CY) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Cypress Semiconductor Corp. had a negative net margin of 37.59% and a positive return on equity of 3.26%. The business earned $450.10 million during the quarter, compared to the consensus estimate of $455.15 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. Analysts anticipate that Cypress Semiconductor Corp. will post $0.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Thursday, September 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.44 annualized dividend and a yield of 4.07%. Cypress Semiconductor Corp.’s dividend payout ratio is currently -20.85%.
CY has been the subject of a number of recent research reports. Zacks Investment Research raised Cypress Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, June 28th. Morgan Stanley cut Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $11.36 to $11.00 in a report on Monday, July 18th. Craig Hallum increased their target price on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Pacific Crest increased their target price on Cypress Semiconductor Corp. from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Finally, Needham & Company LLC increased their target price on 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 issued a buy rating and one has assigned a strong buy rating to the company. Cypress Semiconductor Corp. presently has a consensus rating of “Buy” and a consensus target price of $11.43.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lombard Odier Asset Management USA Corp purchased a new position in shares of Cypress Semiconductor Corp. during the second quarter valued at approximately $106,000. Passport Capital LLC bought a new position in shares of Cypress Semiconductor Corp. during the second quarter valued at about $114,000. Private Advisor Group LLC bought a new position in shares of Cypress Semiconductor Corp. during the second quarter valued at about $112,000. First Allied Advisory Services Inc. bought a new position in shares of Cypress Semiconductor Corp. during the second quarter valued at about $124,000. Finally, Bellwether Investment Group LLC bought a new position in shares of Cypress Semiconductor Corp. during the second quarter valued at about $141,000. Institutional investors and hedge funds own 96.58% of the company’s stock.
About Cypress Semiconductor Corp.
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.
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