Tower Research Capital LLC TRC raised its stake in shares of Cypress Semiconductor Corp. (NASDAQ:CY) by 1,474.7% during the second quarter, Holdings Channel reports. The firm owned 16,991 shares of the company’s stock after buying an additional 15,912 shares during the period. Tower Research Capital LLC TRC’s holdings in Cypress Semiconductor Corp. were worth $179,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. ING Groep NV purchased a new position in Cypress Semiconductor Corp. during the second quarter valued at $123,556,000. Magnetar Financial LLC boosted its position in shares of Cypress Semiconductor Corp. by 11.0% in the first quarter. Magnetar Financial LLC now owns 44,777 shares of the company’s stock worth $388,000 after buying an additional 4,445 shares during the period. Private Advisor Group LLC bought a new position in shares of Cypress Semiconductor Corp. during the second quarter worth approximately $112,000. Loomis Sayles & Co. L P boosted its position in shares of Cypress Semiconductor Corp. by 4.9% in the first quarter. Loomis Sayles & Co. L P now owns 1,700,082 shares of the company’s stock worth $14,723,000 after buying an additional 79,140 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Cypress Semiconductor Corp. by 2,901.3% in the first quarter. Lazard Asset Management LLC now owns 369,764 shares of the company’s stock worth $3,202,000 after buying an additional 357,444 shares during the period. 96.60% of the stock is currently owned by institutional investors.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) opened at 12.00 on Tuesday. Cypress Semiconductor Corp. has a 1-year low of $6.30 and a 1-year high of $12.48. The firm’s 50-day moving average price is $11.67 and its 200 day moving average price is $10.37. The stock’s market cap is $3.85 billion.
Cypress Semiconductor Corp. (NASDAQ:CY) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $455.15 million. Cypress Semiconductor Corp. had a positive return on equity of 3.26% and a negative net margin of 37.59%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. On average, equities analysts expect that Cypress Semiconductor Corp. will post $0.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, September 29th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, September 27th. Cypress Semiconductor Corp.’s payout ratio is currently -20.85%.
A number of research firms recently issued reports on CY. Roth Capital restated a “buy” rating and set a $13.00 price objective on shares of Cypress Semiconductor Corp. in a report on Friday, September 16th. Craig Hallum boosted their price objective on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded Cypress Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, June 28th. Needham & Company LLC boosted their price objective on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Cypress Semiconductor Corp. in a report on Monday, August 15th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $11.43.
In other Cypress Semiconductor Corp. news, insider H Raymond Bingham sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $11.96, for a total value of $179,400.00. Following the sale, the insider now directly owns 40,276 shares in the company, valued at $481,700.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Benhamou sold 50,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $11.83, for a total value of $591,500.00. Following the completion of the sale, the director now owns 218,538 shares in the company, valued at $2,585,304.54. The disclosure for this sale can be found here. 6.33% of the stock is owned by insiders.
About Cypress Semiconductor Corp.
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.
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