California Public Employees Retirement System Decreases Position in Cypress Semiconductor Corporation (CY)

California Public Employees Retirement System reduced its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 4.1% during the first quarter, Holdings Channel reports. The firm owned 1,220,300 shares of the semiconductor company’s stock after selling 52,500 shares during the period. California Public Employees Retirement System owned approximately 0.37% of Cypress Semiconductor Corporation worth $16,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CY. Creative Planning raised its stake in shares of Cypress Semiconductor Corporation by 2.0% in the first quarter. Creative Planning now owns 12,259 shares of the semiconductor company’s stock worth $169,000 after buying an additional 241 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Cypress Semiconductor Corporation by 0.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,897 shares of the semiconductor company’s stock worth $659,000 after buying an additional 346 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Cypress Semiconductor Corporation by 3.2% in the first quarter. Private Advisor Group LLC now owns 11,487 shares of the semiconductor company’s stock worth $153,000 after buying an additional 360 shares during the last quarter. World Asset Management Inc raised its stake in shares of Cypress Semiconductor Corporation by 3.3% in the first quarter. World Asset Management Inc now owns 20,142 shares of the semiconductor company’s stock worth $277,000 after buying an additional 639 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock worth $105,000 after buying an additional 794 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Cypress Semiconductor Corporation (NASDAQ:CY)

Shares of Cypress Semiconductor Corporation (NASDAQ CY) traded down 1.72% during mid-day trading on Friday, reaching $13.14. The company had a trading volume of 6,241,189 shares. The company’s market capitalization is $4.33 billion. The company’s 50-day moving average price is $13.60 and its 200-day moving average price is $12.86. Cypress Semiconductor Corporation has a 52-week low of $9.11 and a 52-week high of $14.98.

Cypress Semiconductor Corporation (NASDAQ:CY) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Cypress Semiconductor Corporation had a negative net margin of 30.84% and a positive return on equity of 5.31%. The firm had revenue of $532 million during the quarter, compared to analyst estimates of $511.41 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, analysts forecast that Cypress Semiconductor Corporation will post $0.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Thursday, June 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, June 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -22.22%.

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CY has been the topic of a number of analyst reports. Stephens reaffirmed an “overweight” rating on shares of Cypress Semiconductor Corporation in a research report on Tuesday, May 9th. Zacks Investment Research raised Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Cypress Semiconductor Corporation in a research report on Tuesday, February 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $18.00 target price on shares of Cypress Semiconductor Corporation in a research report on Thursday, May 25th. Finally, SunTrust Banks, Inc. raised Cypress Semiconductor Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.59 to $17.00 in a research report on Monday, April 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.46.

In related news, Director Oc Kwon sold 6,385 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $14.01, for a total value of $89,453.85. Following the completion of the transaction, the director now owns 69,124 shares of the company’s stock, valued at $968,427.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Benhamou sold 50,000 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $14.18, for a total transaction of $709,000.00. Following the completion of the transaction, the director now directly owns 118,538 shares of the company’s stock, valued at approximately $1,680,868.84. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

About Cypress Semiconductor Corporation

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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