New Jersey Better Educational Savings Trust bought a new stake in Cypress Semiconductor Corporation (NASDAQ:CY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the semiconductor company’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 794 shares during the last quarter. Nordea Investment Management AB increased its position in Cypress Semiconductor Corporation by 101.7% in the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 4,600 shares during the period. ClariVest Asset Management LLC increased its position in Cypress Semiconductor Corporation by 101.7% in the first quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 4,600 shares during the period. ING Groep NV bought a new position in Cypress Semiconductor Corporation during the second quarter valued at approximately $138,000. Finally, Foresters Investment Management Company Inc. bought a new position in Cypress Semiconductor Corporation during the first quarter valued at approximately $140,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.

Cypress Semiconductor Corporation (NASDAQ:CY) opened at 13.22 on Friday. Cypress Semiconductor Corporation has a 12-month low of $9.63 and a 12-month high of $15.11. The firm’s 50-day moving average price is $14.04 and its 200 day moving average price is $13.56. The stock’s market cap is $4.40 billion.

Cypress Semiconductor Corporation (NASDAQ:CY) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The business had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Cypress Semiconductor Corporation will post $0.80 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Thursday, September 28th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.33%. Cypress Semiconductor Corporation’s payout ratio is currently -110.00%.

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Several research analysts have recently commented on CY shares. Craig Hallum raised their price objective on Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, May 2nd. Mizuho reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Monday, April 24th. Loop Capital reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Friday, July 28th. Finally, Barclays PLC raised Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Cypress Semiconductor Corporation currently has an average rating of “Buy” and an average target price of $16.67.

In other Cypress Semiconductor Corporation news, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $14.10, for a total transaction of $3,526,057.50. Following the completion of the transaction, the executive vice president now owns 302,657 shares of the company’s stock, valued at $4,267,463.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Benhamou sold 50,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $13.31, for a total value of $665,500.00. Following the completion of the sale, the director now directly owns 89,997 shares of the company’s stock, valued at approximately $1,197,860.07. The disclosure for this sale can be found here. Insiders have sold 336,460 shares of company stock valued at $4,703,111 in the last three months. Insiders own 0.69% of the company’s stock.

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

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