Cypress Semiconductor Corporation (CY) Shares Bought by Formula Growth Ltd.
Formula Growth Ltd. lifted its stake in Cypress Semiconductor Corporation (NASDAQ:CY) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,400 shares of the semiconductor company’s stock after purchasing an additional 152,000 shares during the period. Cypress Semiconductor comprises about 1.2% of Formula Growth Ltd.’s investment portfolio, making the stock its 26th largest position. Formula Growth Ltd. owned 0.16% of Cypress Semiconductor worth $7,816,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Cypress Semiconductor by 15.8% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,543,264 shares of the semiconductor company’s stock worth $23,180,000 after purchasing an additional 210,992 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Cypress Semiconductor by 4.0% in the second quarter. Teacher Retirement System of Texas now owns 25,734 shares of the semiconductor company’s stock worth $351,000 after acquiring an additional 989 shares during the period. Blair William & Co. IL purchased a new stake in Cypress Semiconductor in the second quarter worth about $995,000. Northpointe Capital LLC lifted its stake in Cypress Semiconductor by 69.2% in the second quarter. Northpointe Capital LLC now owns 541,074 shares of the semiconductor company’s stock worth $7,386,000 after acquiring an additional 221,288 shares during the period. Finally, Brookstone Capital Management lifted its stake in Cypress Semiconductor by 33.1% in the third quarter. Brookstone Capital Management now owns 27,370 shares of the semiconductor company’s stock worth $411,000 after acquiring an additional 6,806 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.
A number of analysts recently weighed in on CY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cypress Semiconductor in a research note on Friday, October 27th. BidaskClub lowered shares of Cypress Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Cypress Semiconductor in a research note on Thursday, October 12th. Bank of America reaffirmed a “buy” rating on shares of Cypress Semiconductor in a research note on Sunday, October 1st. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cypress Semiconductor in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.67.
Shares of Cypress Semiconductor Corporation (NASDAQ CY) opened at $16.01 on Friday. The company has a market cap of $5,628.92, a PE ratio of 35.15, a price-to-earnings-growth ratio of 3.04 and a beta of 2.02. Cypress Semiconductor Corporation has a 1 year low of $10.51 and a 1 year high of $17.42. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to analyst estimates of $602.16 million. Cypress Semiconductor had a negative net margin of 5.75% and a positive return on equity of 9.01%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. equities research analysts predict that Cypress Semiconductor Corporation will post 0.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Thursday, December 28th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, December 27th. Cypress Semiconductor’s payout ratio is -110.00%.
In related news, Director Catherine P. Lego acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $13.69 per share, with a total value of $273,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Trent Thad sold 74,818 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.77, for a total transaction of $1,179,879.86. Following the completion of the transaction, the executive vice president now directly owns 172,105 shares of the company’s stock, valued at $2,714,095.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,604 shares of company stock valued at $1,619,497. Insiders own 0.69% of the company’s stock.
Cypress Semiconductor 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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