Phocas Financial Corp. raised its position in Cypress Semiconductor Corporation (NASDAQ:CY) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 990,222 shares of the semiconductor company’s stock after buying an additional 42,607 shares during the period. Cypress Semiconductor Corporation comprises 1.2% of Phocas Financial Corp.’s investment portfolio, making the stock its 20th biggest position. Phocas Financial Corp. owned approximately 0.30% of Cypress Semiconductor Corporation worth $13,517,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC increased its holdings in Cypress Semiconductor Corporation by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,740 shares in the last quarter. IFP Advisors Inc increased its holdings in Cypress Semiconductor Corporation by 13.3% in the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,014 shares in the last quarter. Independence Advisors LLC purchased a new position in Cypress Semiconductor Corporation in the second quarter valued at $506,000. ING Groep NV purchased a new position in Cypress Semiconductor Corporation in the second quarter valued at $138,000. Finally, Thompson Davis & CO. Inc. increased its holdings in Cypress Semiconductor Corporation by 45.6% in the second quarter. Thompson Davis & CO. Inc. now owns 10,119 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 3,169 shares in the last quarter. 97.06% of the stock is owned by institutional investors.
In other Cypress Semiconductor Corporation news, Director Camillo Martino bought 10,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $12.92 per share, for a total transaction of $129,200.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $258,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael S. Wishart sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $14.07, for a total transaction of $422,100.00. Following the transaction, the director now owns 65,256 shares of the company’s stock, valued at $918,151.92. The disclosure for this sale can be found here. Insiders purchased 60,000 shares of company stock valued at $834,100 in the last quarter. Company insiders own 0.69% of the company’s stock.
Cypress Semiconductor Corporation (NASDAQ CY) traded up 0.63% during mid-day trading on Friday, hitting $15.86. 3,630,784 shares of the stock were exchanged. The company’s market cap is $5.27 billion. The company has a 50-day moving average price of $14.54 and a 200-day moving average price of $13.94. Cypress Semiconductor Corporation has a one year low of $9.63 and a one year high of $16.11.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The firm had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is -110.00%.
A number of research analysts have weighed in on the stock. BidaskClub raised shares of Cypress Semiconductor Corporation from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $18.00 in a report on Wednesday, June 28th. Loop Capital reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cypress Semiconductor Corporation in a report on Tuesday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cypress Semiconductor Corporation in a report on Monday, October 9th. Finally, KeyCorp set a $17.00 price objective on shares of Cypress Semiconductor Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Cypress Semiconductor Corporation has an average rating of “Buy” and an average price target of $17.09.
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Cypress Semiconductor Corporation Profile
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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