Huntington National Bank maintained its stake in shares of Cypress Semiconductor Corp. (NASDAQ:CY) during the second quarter, Holdings Channel reports. The fund owned 16,236 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Cypress Semiconductor Corp. were worth $229,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Cypress Semiconductor Corp. during the second quarter worth $12,290,000. Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in Cypress Semiconductor Corp. during the second quarter worth $2,110,000. LS Investment Advisors LLC boosted its position in Cypress Semiconductor Corp. by 15.7% in the second quarter. LS Investment Advisors LLC now owns 1,022,603 shares of the company’s stock worth $10,788,000 after buying an additional 138,516 shares during the last quarter. Trellus Management Company LLC acquired a new position in Cypress Semiconductor Corp. during the second quarter worth $317,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Cypress Semiconductor Corp. by 0.9% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,833,732 shares of the company’s stock worth $19,346,000 after buying an additional 15,587 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) traded up 1.42% on Friday, reaching $12.16. The company had a trading volume of 8,142,164 shares. The firm’s market capitalization is $3.91 billion. Cypress Semiconductor Corp. has a 1-year low of $6.30 and a 1-year high of $12.48. The firm has a 50-day moving average price of $11.64 and a 200 day moving average price of $10.32.
Cypress Semiconductor Corp. (NASDAQ:CY) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Cypress Semiconductor Corp. had a negative net margin of 37.59% and a positive return on equity of 3.26%. The company earned $450.10 million during the quarter, compared to the consensus estimate of $455.15 million. During the same period last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities research analysts predict that Cypress Semiconductor Corp. will post $0.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 29th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.44 annualized dividend and a dividend yield of 3.62%. Cypress Semiconductor Corp.’s dividend payout ratio is currently -20.85%.
A number of equities analysts recently weighed in on CY shares. Roth Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of Cypress Semiconductor Corp. in a report on Friday, September 16th. Craig Hallum upped their price target on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Needham & Company LLC upped their price target on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised Cypress Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Tuesday, June 28th. Finally, Morgan Stanley cut Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $11.36 to $11.00 in a report on Monday, July 18th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.43.
In other Cypress Semiconductor Corp. news, Director H Raymond Bingham sold 15,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $11.65, for a total value of $174,750.00. Following the completion of the transaction, the director now directly owns 40,276 shares in the company, valued at approximately $469,215.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Benhamou sold 50,000 shares of the business’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 transaction, the director now owns 218,538 shares of the company’s stock, valued at $2,585,304.54. The disclosure for this sale can be found here. Corporate insiders own 6.33% of the company’s stock.
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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