Monarch Partners Asset Management LLC purchased a new position in shares of Cypress Semiconductor Corporation (NASDAQ:CY) during the second quarter, Holdings Channel reports. The fund purchased 642,460 shares of the semiconductor company’s stock, valued at approximately $8,770,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Cypress Semiconductor Corporation by 13,107.4% in the first quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock worth $380,014,000 after buying an additional 27,408,148 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of Cypress Semiconductor Corporation during the second quarter worth approximately $83,217,000. Lazard Asset Management LLC boosted its position in shares of Cypress Semiconductor Corporation by 402.1% in the first quarter. Lazard Asset Management LLC now owns 6,810,329 shares of the semiconductor company’s stock worth $93,710,000 after buying an additional 5,453,982 shares in the last quarter. FMR LLC boosted its position in shares of Cypress Semiconductor Corporation by 230.4% in the first quarter. FMR LLC now owns 3,014,980 shares of the semiconductor company’s stock worth $41,487,000 after buying an additional 2,102,360 shares in the last quarter. Finally, Park West Asset Management LLC purchased a new position in shares of Cypress Semiconductor Corporation during the first quarter worth approximately $28,395,000. 95.87% of the stock is currently owned by hedge funds and other institutional investors.

Cypress Semiconductor Corporation (NASDAQ:CY) opened at 13.28 on Friday. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11. The firm has a 50-day moving average price of $14.05 and a 200-day moving average price of $13.57. The company’s market capitalization is $4.42 billion.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Thursday, September 28th will be given a $0.11 dividend. The ex-dividend date is Wednesday, September 27th. This represents a $0.44 annualized dividend and a dividend yield of 3.31%. Cypress Semiconductor Corporation’s payout ratio is -110.00%.

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A number of analysts recently issued reports on CY shares. Barclays PLC upgraded Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.00 to $18.00 in a research note on Wednesday, June 28th. Zacks Investment Research upgraded 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 Thursday, June 29th. Bank of America Corporation reiterated a “buy” rating and set a $18.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Thursday, May 25th. Stephens reiterated an “overweight” rating on shares of Cypress Semiconductor Corporation in a research note on Tuesday, May 9th. Finally, KeyCorp reiterated an “overweight” rating and set a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.67.

In other news, Director Oc Kwon sold 6,385 shares of Cypress Semiconductor Corporation stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $14.01, for a total value of $89,453.85. Following the sale, the director now directly owns 69,124 shares of the company’s stock, valued at $968,427.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Benhamou sold 50,000 shares of Cypress Semiconductor Corporation stock in a transaction dated Monday, June 19th. The stock was 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 in the company, valued at $1,197,860.07. The disclosure for this sale can be found here. Insiders sold 336,460 shares of company stock worth $4,703,111 over the last 90 days. Company 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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