GWM Advisors LLC Reduces Stock Holdings in Cypress Semiconductor Co. (NASDAQ:CY)

GWM Advisors LLC reduced its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 39.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,725 shares of the semiconductor company’s stock after selling 11,720 shares during the period. GWM Advisors LLC’s holdings in Cypress Semiconductor were worth $394,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CY. TCW Group Inc. lifted its stake in shares of Cypress Semiconductor by 0.4% in the 1st quarter. TCW Group Inc. now owns 9,521,143 shares of the semiconductor company’s stock valued at $142,055,000 after purchasing an additional 37,670 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Cypress Semiconductor by 7.4% in the 1st quarter. Ceredex Value Advisors LLC now owns 5,527,700 shares of the semiconductor company’s stock valued at $83,075,000 after purchasing an additional 378,900 shares during the period. Villere ST Denis J & Co. LLC lifted its stake in shares of Cypress Semiconductor by 2.3% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 5,265,327 shares of the semiconductor company’s stock valued at $78,558,000 after purchasing an additional 119,955 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cypress Semiconductor by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 3,953,810 shares of the semiconductor company’s stock valued at $50,292,000 after purchasing an additional 488,965 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of Cypress Semiconductor by 1.0% in the 1st quarter. Rice Hall James & Associates LLC now owns 3,011,384 shares of the semiconductor company’s stock valued at $44,930,000 after purchasing an additional 31,080 shares during the period. 77.13% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Sam Geha sold 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.39, for a total transaction of $111,950.00. Following the completion of the sale, the executive vice president now owns 115,655 shares of the company’s stock, valued at $2,589,515.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $22.18, for a total transaction of $66,540.00. Following the sale, the executive vice president now directly owns 163,644 shares of the company’s stock, valued at approximately $3,629,623.92. The disclosure for this sale can be found here. Insiders have sold 54,000 shares of company stock valued at $1,204,230 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

Several research firms recently issued reports on CY. Roth Capital cut shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $24.00 in a research note on Monday, June 3rd. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, July 30th. MKM Partners reiterated a “neutral” rating and issued a $23.85 target price (up from $20.00) on shares of Cypress Semiconductor in a research note on Tuesday, June 4th. Mizuho reiterated a “hold” rating and issued a $23.85 target price on shares of Cypress Semiconductor in a research note on Monday, July 29th. Finally, Morgan Stanley upgraded shares of Cypress Semiconductor from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $11.50 to $15.50 in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.75.

NASDAQ:CY opened at $22.95 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.31 and a current ratio of 1.91. The company has a fifty day moving average of $22.67 and a two-hundred day moving average of $18.50. The stock has a market capitalization of $8.47 billion, a PE ratio of 19.78, a P/E/G ratio of 2.57 and a beta of 1.86. Cypress Semiconductor Co. has a fifty-two week low of $11.75 and a fifty-two week high of $23.11.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.92%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.

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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