Cypress Semiconductor Co. (CY) Shares Sold by Advisors Asset Management Inc.
Advisors Asset Management Inc. reduced its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 86.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 137,112 shares of the semiconductor company’s stock after selling 856,335 shares during the period. Advisors Asset Management Inc.’s holdings in Cypress Semiconductor were worth $2,136,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in CY. Robecosam AG raised its holdings in Cypress Semiconductor by 27.7% in the 2nd quarter. Robecosam AG now owns 3,000,000 shares of the semiconductor company’s stock valued at $47,310,000 after acquiring an additional 650,000 shares during the period. Monarch Partners Asset Management LLC bought a new position in Cypress Semiconductor in the 2nd quarter valued at about $9,093,000. First Trust Advisors LP raised its holdings in Cypress Semiconductor by 18.6% in the 2nd quarter. First Trust Advisors LP now owns 2,402,988 shares of the semiconductor company’s stock valued at $37,439,000 after acquiring an additional 377,554 shares during the period. Waddell & Reed Financial Inc. raised its holdings in Cypress Semiconductor by 1.7% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 21,459,257 shares of the semiconductor company’s stock valued at $334,335,000 after acquiring an additional 364,600 shares during the period. Finally, Marshall Wace LLP raised its holdings in Cypress Semiconductor by 440.5% in the 2nd quarter. Marshall Wace LLP now owns 405,717 shares of the semiconductor company’s stock valued at $6,321,000 after acquiring an additional 330,657 shares during the period. 82.66% of the stock is currently owned by hedge funds and other institutional investors.
CY has been the topic of several research analyst reports. BidaskClub cut shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Craig Hallum raised their target price on shares of Cypress Semiconductor from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Cypress Semiconductor in a report on Friday, July 27th. Barclays reaffirmed a “hold” rating and set a $18.00 target price on shares of Cypress Semiconductor in a report on Sunday, July 29th. Finally, TheStreet raised shares of Cypress Semiconductor from a “c+” rating to a “b” rating in a report on Friday, July 27th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.46.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Thursday, September 27th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, September 26th. This represents a $0.44 annualized dividend and a dividend yield of 3.55%. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $14.00, for a total value of $42,000.00. Following the transaction, the executive vice president now directly owns 111,157 shares of the company’s stock, valued at $1,556,198. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 9,000 shares of company stock worth $136,290 over the last ninety days. Insiders own 0.43% of the company’s stock.
Cypress Semiconductor Profile
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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