Russell Investments Group Ltd. lowered its stake in Cypress Semiconductor Co. (NASDAQ:CY) by 25.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 248,337 shares of the semiconductor company’s stock after selling 83,010 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cypress Semiconductor were worth $5,523,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Wealthcare Capital Management LLC acquired a new stake in Cypress Semiconductor in the second quarter worth about $111,000. ETF Managers Group LLC raised its holdings in Cypress Semiconductor by 8.6% during the 1st quarter. ETF Managers Group LLC now owns 8,579 shares of the semiconductor company’s stock worth $128,000 after buying an additional 680 shares during the period. Equitec Specialists LLC acquired a new stake in Cypress Semiconductor during the 2nd quarter worth about $191,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $191,000. Finally, Alpha Cubed Investments LLC acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at about $200,000. 80.98% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on CY shares. Barclays reiterated a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. ValuEngine upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. SunTrust Banks upped their target price on Cypress Semiconductor to $23.85 in a report on Tuesday, June 4th. They noted that the move was a valuation call. Morgan Stanley upgraded Cypress Semiconductor from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $11.50 to $15.50 in a report on Thursday, May 30th. Finally, Needham & Company LLC downgraded Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.75.
Cypress Semiconductor stock traded up $0.01 during mid-day trading on Friday, hitting $23.34. 762,090 shares of the company were exchanged, compared to its average volume of 4,287,646. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $22.93 and a 200 day moving average of $19.27. Cypress Semiconductor Co. has a 1-year low of $11.75 and a 1-year high of $23.38. The company has a market capitalization of $8.62 billion, a PE ratio of 20.12 and a beta of 1.85.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Cypress Semiconductor had a return on equity of 19.36% and a net margin of 13.83%. The company had revenue of $532.20 million for the quarter, compared to analyst estimates of $530.96 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s revenue was down 14.7% compared to the same quarter last year. Research analysts expect that Cypress Semiconductor Co. will post 0.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, September 25th. Cypress Semiconductor’s payout ratio is presently 37.93%.
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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