Cypress Semiconductor Co. (CY) Shares Sold by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. trimmed its position in Cypress Semiconductor Co. (NASDAQ:CY) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,135 shares of the semiconductor company’s stock after selling 2,977 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cypress Semiconductor were worth $944,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Cypress Semiconductor by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 28,928,330 shares of the semiconductor company’s stock valued at $398,053,000 after purchasing an additional 282,468 shares during the period. BlackRock Inc. raised its holdings in shares of Cypress Semiconductor by 13,107.4% in the 1st quarter. BlackRock Inc. now owns 27,617,252 shares of the semiconductor company’s stock valued at $380,014,000 after purchasing an additional 27,408,148 shares during the period. TCW Group Inc. raised its holdings in shares of Cypress Semiconductor by 19.0% in the 1st quarter. TCW Group Inc. now owns 11,876,197 shares of the semiconductor company’s stock valued at $163,416,000 after purchasing an additional 1,895,279 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Cypress Semiconductor by 4.4% in the 2nd quarter. Alliancebernstein L.P. now owns 8,959,470 shares of the semiconductor company’s stock valued at $122,297,000 after purchasing an additional 380,718 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Cypress Semiconductor by 15.9% in the 1st quarter. Epoch Investment Partners Inc. now owns 8,918,409 shares of the semiconductor company’s stock valued at $122,718,000 after purchasing an additional 1,225,130 shares during the period. 97.36% of the stock is currently owned by institutional investors.
Cypress Semiconductor Co. (CY) opened at 14.16 on Wednesday. The stock’s 50 day moving average is $13.78 and its 200 day moving average is $13.73. Cypress Semiconductor Co. has a one year low of $9.63 and a one year high of $15.11. The company’s market capitalization is $4.71 billion.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The business had revenue of $593.80 million for the quarter, compared to analyst estimates of $546.82 million. Cypress Semiconductor had a negative net margin of 3.03% and a negative return on equity of 4.96%. Cypress Semiconductor’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, analysts anticipate that Cypress Semiconductor Co. will post $0.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, September 27th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently -110.00%.
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Several research analysts have weighed in on CY shares. Barclays PLC raised shares of Cypress Semiconductor from an “equal weight” rating to an “overweight” rating in a report on Friday, July 21st. KeyCorp set a $17.00 price target on shares of Cypress Semiconductor and gave the company a “buy” rating in a report on Wednesday, July 26th. TheStreet raised shares of Cypress Semiconductor from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Loop Capital reissued a “buy” rating and issued a $17.00 price target on shares of Cypress Semiconductor in a report on Friday, July 28th. Finally, Needham & Company LLC increased their price target on shares of Cypress Semiconductor from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $16.75.
In related news, Director Catherine P. Lego purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $13.69 per share, with a total value of $273,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction 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 directly owns 302,657 shares in the company, valued at approximately $4,267,463.70. The disclosure for this sale can be found here. Insiders have sold a total of 330,075 shares of company stock worth $4,613,658 in the last ninety days. 0.69% of the stock is currently owned by insiders.
About Cypress Semiconductor
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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