Cypress Semiconductor Co. (NASDAQ:CY) Shares Sold by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC lessened its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,774 shares of the semiconductor company’s stock after selling 831 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Cypress Semiconductor were worth $888,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. bought a new stake in Cypress Semiconductor in the first quarter valued at $30,000. Quadrant Capital Group LLC lifted its stake in Cypress Semiconductor by 101.0% in the first quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 1,102 shares during the last quarter. Somerset Trust Co lifted its stake in Cypress Semiconductor by 151.6% in the first quarter. Somerset Trust Co now owns 2,841 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 1,712 shares during the last quarter. Investors Research Corp bought a new stake in Cypress Semiconductor in the first quarter valued at $57,000. Finally, Meeder Asset Management Inc. lifted its stake in Cypress Semiconductor by 208.2% in the first quarter. Meeder Asset Management Inc. now owns 4,068 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 2,748 shares during the last quarter. 79.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CY traded down $0.01 during midday trading on Wednesday, reaching $23.01. 2,694,597 shares of the company traded hands, compared to its average volume of 6,034,737. Cypress Semiconductor Co. has a 52 week low of $11.75 and a 52 week high of $23.05. The stock’s 50-day moving average is $22.37. The company has a current ratio of 1.42, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $8.45 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.88.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The company had revenue of $532.20 million for the quarter, compared to the consensus estimate of $530.96 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Cypress Semiconductor’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cypress Semiconductor Co. will post 0.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.

In other Cypress Semiconductor news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the sale, the executive vice president now directly owns 165,031 shares in the company, valued at $2,619,041.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.16, for a total transaction of $443,200.00. Following the completion of the sale, the chief executive officer now owns 521,745 shares in the company, valued at $11,561,869.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,710 shares of company stock worth $1,246,602. 0.55% of the stock is owned by company insiders.

A number of brokerages recently weighed in on CY. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Needham & Company LLC cut shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Morgan Stanley lifted their price objective on shares of Intact Financial from C$125.00 to C$128.00 in a research note on Thursday, May 30th. Mizuho lifted their price objective on shares of Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Investment Research cut shares of Comfort Systems USA from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Cypress Semiconductor currently has a consensus rating of “Hold” and an average target price of $20.75.

About Cypress Semiconductor

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; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; 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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Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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