Cypress Semiconductor Co. (CY) Shares Sold by LS Investment Advisors LLC
LS Investment Advisors LLC reduced its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 951,543 shares of the semiconductor company’s stock after selling 25,786 shares during the quarter. Cypress Semiconductor accounts for approximately 0.8% of LS Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position. LS Investment Advisors LLC’s holdings in Cypress Semiconductor were worth $14,502,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CY. Stifel Financial Corp grew its holdings in Cypress Semiconductor by 0.4% during the second quarter. Stifel Financial Corp now owns 115,674 shares of the semiconductor company’s stock worth $1,579,000 after acquiring an additional 449 shares during the period. Macquarie Group Ltd. grew its holdings in Cypress Semiconductor by 0.8% during the second quarter. Macquarie Group Ltd. now owns 193,193 shares of the semiconductor company’s stock worth $2,637,000 after acquiring an additional 1,468 shares during the period. State Street Corp grew its holdings in Cypress Semiconductor by 3.4% during the second quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock worth $125,265,000 after acquiring an additional 302,001 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Cypress Semiconductor by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 483,189 shares of the semiconductor company’s stock worth $6,596,000 after acquiring an additional 10,232 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Cypress Semiconductor by 1.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 49,458 shares of the semiconductor company’s stock valued at $675,000 after purchasing an additional 851 shares during the period. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CY. Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 price target on shares of Cypress Semiconductor in a research report on Monday, January 29th. Craig Hallum increased their price target on Cypress Semiconductor from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Cypress Semiconductor from a “buy” rating to a “sell” rating in a research report on Thursday, February 1st. SunTrust Banks reiterated a “hold” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a research report on Friday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Cypress Semiconductor in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $19.04.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The firm had revenue of $597.54 million during the quarter, compared to analyst estimates of $593.15 million. During the same period last year, the company posted $0.15 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. equities analysts predict that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.
In other news, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $16.60, for a total transaction of $49,800.00. Following the completion of the sale, the senior vice president now directly owns 70,607 shares in the company, valued at approximately $1,172,076.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sam Geha sold 14,517 shares of Cypress Semiconductor stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total value of $251,724.78. Following the sale, the senior vice president now owns 41,204 shares of the company’s stock, valued at $714,477.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,517 shares of company stock valued at $399,295 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.
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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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