Cypress Semiconductor Corporation (CY) Shares Sold by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. cut its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 23.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,287,927 shares of the semiconductor company’s stock after selling 384,176 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.39% of Cypress Semiconductor Corporation worth $19,345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of CY. Ffcm LLC raised its holdings in Cypress Semiconductor Corporation by 139.2% during the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock worth $109,000 after buying an additional 4,740 shares during the last quarter. IFP Advisors Inc raised its holdings in Cypress Semiconductor Corporation by 13.3% during the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,014 shares during the last quarter. ING Groep NV acquired a new position in Cypress Semiconductor Corporation during the second quarter worth $138,000. Thompson Davis & CO. Inc. raised its holdings in Cypress Semiconductor Corporation by 45.6% during the second quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock worth $138,000 after buying an additional 3,169 shares during the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in Cypress Semiconductor Corporation during the second quarter worth $147,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.
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Cypress Semiconductor Corporation (NASDAQ:CY) traded up $0.26 during mid-day trading on Thursday, hitting $16.62. 1,232,159 shares of the stock were exchanged, compared to its average volume of 6,373,356. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.92. Cypress Semiconductor Corporation has a one year low of $10.51 and a one year high of $17.15. The company has a market capitalization of $5,500.00, a price-to-earnings ratio of 34.96, a P/E/G ratio of 3.02 and a beta of 2.02.
Cypress Semiconductor Corporation (NASDAQ:CY) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Cypress Semiconductor Corporation had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. During the same period last year, the business earned $0.15 earnings per share. Cypress Semiconductor Corporation’s revenue was up 14.0% compared to the same quarter last year. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Thursday, December 28th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.
Several research analysts have weighed in on the stock. Barclays PLC downgraded shares of Cypress Semiconductor Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $18.00 to $17.00 in a report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Cypress Semiconductor Corporation from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, October 31st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $19.00 target price on shares of Cypress Semiconductor Corporation in a report on Thursday, October 12th. BidaskClub upgraded shares of Cypress Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $17.67.
In related news, SVP Sam Geha sold 8,269 shares of Cypress Semiconductor Corporation stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $16.70, for a total value of $138,092.30. Following the transaction, the senior vice president now directly owns 63,000 shares of the company’s stock, valued at $1,052,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $258,400. The disclosure for this purchase can be found here. Insiders have acquired 60,000 shares of company stock worth $834,100 over the last three months. Insiders own 0.69% of the company’s stock.
Cypress Semiconductor Corporation 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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