Cypress Semiconductor (CY) Shares Down 5.8%

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Cypress Semiconductor Co. (NASDAQ:CY) was down 5.8% on Monday . The stock traded as low as $15.26 and last traded at $15.36. Approximately 6,587,889 shares traded hands during trading, an increase of 55% from the average daily volume of 4,256,292 shares. The stock had previously closed at $16.31.

Several equities research analysts recently weighed in on CY shares. ValuEngine downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Zacks Investment Research downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. 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 previously from $20.00) on shares of Cypress Semiconductor in a research report on Friday, February 1st. Finally, BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Cypress Semiconductor has a consensus rating of “Buy” and an average target price of $17.21.

The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.87 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.72 and a beta of 1.96.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.

In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $15.58, for a total transaction of $46,740.00. Following the completion of the sale, the executive vice president now owns 139,556 shares of the company’s stock, valued at approximately $2,174,282.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Trent Thad sold 17,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $15.35, for a total transaction of $260,950.00. Following the sale, the executive vice president now directly owns 340,117 shares of the company’s stock, valued at approximately $5,220,795.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,710 shares of company stock valued at $631,872. Insiders own 0.55% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. grew its position in shares of Cypress Semiconductor by 1.3% during the 1st quarter. Macquarie Group Ltd. now owns 200,784 shares of the semiconductor company’s stock valued at $2,996,000 after acquiring an additional 2,591 shares during the period. MetLife Investment Advisors LLC grew its position in shares of Cypress Semiconductor by 0.5% during the 1st quarter. MetLife Investment Advisors LLC now owns 221,805 shares of the semiconductor company’s stock valued at $3,309,000 after acquiring an additional 1,105 shares during the period. Jefferies Group LLC bought a new stake in shares of Cypress Semiconductor during the 1st quarter valued at $486,000. Utah Retirement Systems grew its position in shares of Cypress Semiconductor by 1.1% during the 1st quarter. Utah Retirement Systems now owns 67,465 shares of the semiconductor company’s stock valued at $1,006,000 after acquiring an additional 765 shares during the period. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Cypress Semiconductor by 106.6% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 75,880 shares of the semiconductor company’s stock valued at $1,132,000 after acquiring an additional 39,157 shares during the period. 81.36% of the stock is owned by hedge funds and other institutional investors.

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About Cypress Semiconductor (NASDAQ:CY)

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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