TD Asset Management Inc. increased its stake in shares of Cypress Semiconductor Corp. (NASDAQ:CY) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,928,665 shares of the company’s stock after buying an additional 143,026 shares during the period. TD Asset Management Inc.’s holdings in Cypress Semiconductor Corp. were worth $35,613,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CY. ING Groep NV acquired a new position in Cypress Semiconductor Corp. during the second quarter valued at $123,556,000. Private Advisor Group LLC acquired a new position in Cypress Semiconductor Corp. during the second quarter valued at $112,000. Huntington National Bank increased its position in Cypress Semiconductor Corp. by 23.2% in the third quarter. Huntington National Bank now owns 14,823 shares of the company’s stock valued at $180,000 after buying an additional 2,787 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Cypress Semiconductor Corp. during the second quarter valued at $6,731,000. Finally, Dimensional Fund Advisors LP increased its position in Cypress Semiconductor Corp. by 33.8% in the second quarter. Dimensional Fund Advisors LP now owns 10,099,777 shares of the company’s stock valued at $106,535,000 after buying an additional 2,553,068 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.
Shares of Cypress Semiconductor Corp. (NASDAQ:CY) traded down 0.35% during midday trading on Monday, reaching $11.23. The company’s stock had a trading volume of 1,519,592 shares. The stock’s market capitalization is $3.62 billion. Cypress Semiconductor Corp. has a 12 month low of $6.30 and a 12 month high of $12.48. The stock’s 50-day moving average is $10.64 and its 200 day moving average is $10.89.
Cypress Semiconductor Corp. (NASDAQ:CY) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm earned $530.10 million during the quarter, compared to analysts’ expectations of $525.62 million. Cypress Semiconductor Corp. had a positive return on equity of 3.21% and a negative net margin of 37.50%. During the same quarter last year, the firm earned $0.17 earnings per share. On average, analysts expect that Cypress Semiconductor Corp. will post $0.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 19th. Investors of record on Thursday, December 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, December 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.95%. Cypress Semiconductor Corp.’s payout ratio is -20.28%.
Several research firms recently weighed in on CY. Morgan Stanley reiterated an “equal weight” rating on shares of Cypress Semiconductor Corp. in a research report on Monday, August 15th. Zacks Investment Research upgraded Cypress Semiconductor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Barclays PLC downgraded Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and set a $11.00 price objective on the stock. in a report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Roth Capital initiated coverage on Cypress Semiconductor Corp. in a report on Wednesday, August 31st. They issued a “buy” rating and a $13.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $11.49.
In other Cypress Semiconductor Corp. news, CFO Trent Thad sold 11,390 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $11.83, for a total value of $134,743.70. Following the completion of the sale, the chief financial officer now owns 181,606 shares of the company’s stock, valued at $2,148,398.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Benhamou sold 50,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $11.83, for a total value of $591,500.00. Following the completion of the sale, the director now directly owns 218,538 shares of the company’s stock, valued at approximately $2,585,304.54. The disclosure for this sale can be found here. Corporate insiders own 6.33% of the company’s stock.
Cypress Semiconductor Corp. Company Profile
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division.