ETF Managers Group LLC Boosts Position in Cypress Semiconductor Co. (CY)

ETF Managers Group LLC lifted its position in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,579 shares of the semiconductor company’s stock after acquiring an additional 680 shares during the period. ETF Managers Group LLC’s holdings in Cypress Semiconductor were worth $128,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Resources Investment Advisors Inc. increased its position in Cypress Semiconductor by 52.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,003 shares of the semiconductor company’s stock worth $25,000 after buying an additional 686 shares during the period. State Treasurer State of Michigan increased its position in Cypress Semiconductor by 0.5% in the first quarter. State Treasurer State of Michigan now owns 129,700 shares of the semiconductor company’s stock worth $1,935,000 after buying an additional 700 shares during the period. Optimum Investment Advisors increased its position in Cypress Semiconductor by 1.0% in the first quarter. Optimum Investment Advisors now owns 77,900 shares of the semiconductor company’s stock worth $1,162,000 after buying an additional 800 shares during the period. Wright Investors Service Inc. increased its position in Cypress Semiconductor by 6.8% in the fourth quarter. Wright Investors Service Inc. now owns 13,036 shares of the semiconductor company’s stock worth $166,000 after buying an additional 828 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Cypress Semiconductor by 101.0% in the first quarter. Quadrant Capital Group LLC now owns 2,193 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,102 shares during the period. 85.22% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Sudhir Gopalswamy sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the completion of the transaction, the executive vice president now owns 165,031 shares of the company’s stock, valued at $2,619,041.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Oc Kwon sold 3,710 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.13, for a total value of $63,552.30. Following the transaction, the director now directly owns 73,113 shares of the company’s stock, valued at approximately $1,252,425.69. The disclosure for this sale can be found here. In the last three months, insiders sold 39,710 shares of company stock valued at $632,742. Company insiders own 0.55% of the company’s stock.

Several equities research analysts have weighed in on CY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cypress Semiconductor in a research report on Monday, April 1st. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price (down from $20.00) on shares of Cypress Semiconductor in a research report on Friday, February 1st. BidaskClub raised Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. MKM Partners increased their target price on Cypress Semiconductor to $18.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Bank of America reaffirmed a “buy” rating and issued a $18.00 target price on shares of Cypress Semiconductor in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.21.

NASDAQ:CY opened at $15.47 on Friday. Cypress Semiconductor Co. has a 1 year low of $11.75 and a 1 year high of $18.59. The firm has a market capitalization of $5.65 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.73 and a beta of 1.96. The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 0.40.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a return on equity of 21.23% and a net margin of 14.97%. The company had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $535.13 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cypress Semiconductor Co. will post 0.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 27th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.44 annualized dividend and a dividend yield of 2.84%. Cypress Semiconductor’s payout ratio is 37.93%.

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

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