Macquarie Group Ltd. lowered its stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 41.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,992 shares of the semiconductor company’s stock after selling 83,792 shares during the period. Macquarie Group Ltd.’s holdings in Cypress Semiconductor were worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Enlightenment Research LLC purchased a new stake in Cypress Semiconductor during the second quarter worth about $196,000. Boussard & Gavaudan Investment Management LLP acquired a new position in Cypress Semiconductor during the second quarter worth about $1,258,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cypress Semiconductor by 4.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,780 shares of the semiconductor company’s stock worth $529,000 after acquiring an additional 1,018 shares during the last quarter. Man Group plc raised its position in Cypress Semiconductor by 422.0% during the second quarter. Man Group plc now owns 543,210 shares of the semiconductor company’s stock worth $12,081,000 after acquiring an additional 439,151 shares during the last quarter. Finally, Alpha Windward LLC raised its position in Cypress Semiconductor by 2,355.3% during the second quarter. Alpha Windward LLC now owns 30,912 shares of the semiconductor company’s stock worth $711,000 after acquiring an additional 29,653 shares during the last quarter. 80.94% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $22.45, for a total transaction of $67,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,000 shares of company stock valued at $206,280 in the last ninety days. 0.55% of the stock is currently owned by company insiders.
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 analysts’ consensus estimates of $0.19 by ($0.01). The firm 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 business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, sell-side analysts expect that Cypress Semiconductor Co. will post 0.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, September 25th. Cypress Semiconductor’s dividend payout ratio (DPR) is 37.93%.
CY has been the subject of a number of research reports. Mizuho restated a “hold” rating and set a $23.85 target price on shares of Cypress Semiconductor in a research report on Monday, July 29th. BidaskClub upgraded shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. 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 report on Tuesday, July 30th. Finally, ValuEngine cut shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cypress Semiconductor presently has an average rating of “Hold” and an average target price of $20.75.
Cypress Semiconductor Profile
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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