MetLife Investment Advisors LLC acquired a new position in Cypress Semiconductor Co. (NASDAQ:CY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 211,113 shares of the semiconductor company’s stock, valued at approximately $3,217,000. MetLife Investment Advisors LLC owned 0.06% of Cypress Semiconductor as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of CY. Park West Asset Management LLC acquired a new position in Cypress Semiconductor during the fourth quarter worth $12,954,000. BB&T Securities LLC lifted its stake in Cypress Semiconductor by 23.1% during the fourth quarter. BB&T Securities LLC now owns 41,766 shares of the semiconductor company’s stock worth $636,000 after purchasing an additional 7,844 shares in the last quarter. Castleark Management LLC lifted its stake in Cypress Semiconductor by 7.2% during the fourth quarter. Castleark Management LLC now owns 942,582 shares of the semiconductor company’s stock worth $14,365,000 after purchasing an additional 63,685 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Cypress Semiconductor by 1.6% during the fourth quarter. Macquarie Group Ltd. now owns 203,872 shares of the semiconductor company’s stock worth $3,107,000 after purchasing an additional 3,222 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Cypress Semiconductor during the fourth quarter worth $317,000. Institutional investors own 85.79% of the company’s stock.
In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.25, for a total value of $48,750.00. Following the sale, the executive vice president now directly owns 91,509 shares in the company, valued at $1,487,021.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 43,991 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $17.60, for a total value of $774,241.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,643 shares of company stock worth $1,478,110. Insiders own 0.69% of the company’s stock.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $597.54 million for the quarter, compared to analysts’ expectations of $593.15 million. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. analysts anticipate that Cypress Semiconductor Co. will post 0.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, March 29th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, March 28th. Cypress Semiconductor’s payout ratio is currently 73.33%.
CY has been the topic of a number of research reports. Craig Hallum restated a “buy” rating and set a $21.00 price target on shares of Cypress Semiconductor in a research note on Tuesday, December 5th. Susquehanna Bancshares initiated coverage on Cypress Semiconductor in a research note on Wednesday, December 13th. They set a “positive” rating and a $20.00 price target on the stock. Morgan Stanley restated an “underweight” rating and set a $14.50 price target on shares of Cypress Semiconductor in a research note on Wednesday, December 13th. Piper Jaffray initiated coverage on Cypress Semiconductor in a research note on Monday, December 18th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research cut Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Cypress Semiconductor presently has a consensus rating of “Buy” and an average target price of $19.19.
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About Cypress Semiconductor
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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