Nationwide Fund Advisors Acquires 64,547 Shares of Cypress Semiconductor Corporation (CY)
Nationwide Fund Advisors grew its holdings in Cypress Semiconductor Corporation (NASDAQ:CY) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 861,452 shares of the semiconductor company’s stock after purchasing an additional 64,547 shares during the quarter. Nationwide Fund Advisors owned approximately 0.26% of Cypress Semiconductor Corporation worth $11,759,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ffcm LLC boosted its stake in Cypress Semiconductor Corporation by 139.2% during the 2nd quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 4,740 shares during the last quarter. IFP Advisors Inc boosted its stake in Cypress Semiconductor Corporation by 13.3% during the 2nd quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,014 shares during the last quarter. Nordea Investment Management AB boosted its stake in Cypress Semiconductor Corporation by 101.7% during the 1st quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 4,600 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in Cypress Semiconductor Corporation by 101.7% during the 1st quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 4,600 shares during the last quarter. Finally, ING Groep NV bought a new position in Cypress Semiconductor Corporation during the 2nd quarter worth approximately $138,000. 96.98% of the stock is currently owned by institutional investors.
Cypress Semiconductor Corporation (CY) opened at 14.34 on Monday. The company’s 50-day moving average is $13.74 and its 200-day moving average is $13.78. Cypress Semiconductor Corporation has a one year low of $9.63 and a one year high of $15.11. The firm’s market capitalization is $4.77 billion.
Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million during 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%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. Equities analysts forecast that Cypress Semiconductor Corporation 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 given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.07%. Cypress Semiconductor Corporation’s payout ratio is -110.00%.
A number of research analysts have weighed in on CY shares. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $18.00 in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, June 29th. KeyCorp reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Cypress Semiconductor Corporation in a research note on Wednesday, July 12th. Craig Hallum lifted their price target on shares of Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Needham & Company LLC lifted their price target on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Cypress Semiconductor Corporation presently has an average rating of “Buy” and a consensus target price of $16.75.
In related news, EVP Dana Nazarian sold 250,075 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $14.10, for a total value of $3,526,057.50. Following the completion of the sale, the executive vice president now owns 302,657 shares in the company, valued at approximately $4,267,463.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Daniel Mccranie bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $14.37 per share, with a total value of $431,100.00. Following the transaction, the director now directly owns 55,000 shares in the company, valued at $790,350. The disclosure for this purchase can be found here. Insiders purchased a total of 60,000 shares of company stock valued at $834,100 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
About Cypress Semiconductor Corporation
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.
Want to see what other hedge funds are holding CY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cypress Semiconductor Corporation (NASDAQ:CY).
Receive News & Ratings for Cypress Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.