57,861 Shares in Cypress Semiconductor Co. (NASDAQ:CY) Purchased by River & Mercantile Asset Management LLP

River & Mercantile Asset Management LLP purchased a new position in Cypress Semiconductor Co. (NASDAQ:CY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 57,861 shares of the semiconductor company’s stock, valued at approximately $1,287,000.

Several other large investors have also added to or reduced their stakes in CY. Pentwater Capital Management LP purchased a new stake in shares of Cypress Semiconductor in the second quarter valued at $227,293,000. Magnetar Financial LLC acquired a new position in shares of Cypress Semiconductor in the second quarter worth $189,280,000. Alpine Associates Management Inc. acquired a new position in shares of Cypress Semiconductor in the second quarter worth $112,558,000. Omni Partners LLP acquired a new position in shares of Cypress Semiconductor in the second quarter worth $83,909,000. Finally, Northern Trust Corp increased its stake in shares of Cypress Semiconductor by 0.6% in the second quarter. Northern Trust Corp now owns 2,934,427 shares of the semiconductor company’s stock worth $65,262,000 after acquiring an additional 18,039 shares during the last quarter. Institutional investors and hedge funds own 80.94% of the company’s stock.

Shares of NASDAQ:CY traded up $0.01 during midday trading on Wednesday, hitting $23.41. The company’s stock had a trading volume of 141,111 shares, compared to its average volume of 6,046,312. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 20.19 and a beta of 1.82. The stock’s 50 day simple moving average is $23.18 and its 200 day simple moving average is $20.32. Cypress Semiconductor Co. has a fifty-two week low of $11.75 and a fifty-two week high of $23.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.31 and a current ratio of 1.91.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The business had revenue of $532.20 million during the quarter, compared to analyst estimates of $530.96 million. Cypress Semiconductor had a net margin of 13.83% and a return on equity of 19.36%. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, analysts anticipate that Cypress Semiconductor Co. will post 0.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, September 25th. Cypress Semiconductor’s dividend payout ratio is currently 37.93%.

In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $22.93, for a total value of $68,790.00. Following the sale, the executive vice president now directly owns 161,604 shares of the company’s stock, valued at $3,705,579.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 9,000 shares of company stock worth $206,280. 0.55% of the stock is currently owned by company insiders.

Several research firms have commented on CY. Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, July 30th. BidaskClub raised shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. ValuEngine downgraded shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Mizuho reissued a “hold” rating and set a $23.85 target price on shares of Cypress Semiconductor in a research report on Monday, July 29th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company 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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