Several other research firms have also recently issued reports on CY. ValuEngine cut Cypress Semiconductor from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Cypress Semiconductor from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Mizuho reaffirmed a hold rating and issued a $23.85 price objective on shares of Cypress Semiconductor in a research report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $21.81.
Shares of CY traded down $0.01 during mid-day trading on Thursday, reaching $23.44. The company had a trading volume of 3,138,700 shares, compared to its average volume of 5,714,304. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 20.21 and a beta of 1.82. Cypress Semiconductor has a 52 week low of $11.86 and a 52 week high of $23.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.71. The firm has a 50-day moving average price of $23.38 and a 200 day moving average price of $21.81.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $0.44 dividend on an annualized basis and a yield of 1.88%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.
In other news, CFO Trent Thad sold 40,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $23.43, for a total value of $937,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $23.38, for a total value of $70,140.00. Following the completion of the sale, the executive vice president now owns 158,604 shares of the company’s stock, valued at $3,708,161.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,003 shares of company stock valued at $4,411,670. Company insiders own 0.55% of the company’s stock.
Large investors have recently bought and sold shares of the company. Liberty Wealth Management LLC purchased a new stake in shares of Cypress Semiconductor in the 3rd quarter worth $41,000. Point72 Hong Kong Ltd increased its stake in shares of Cypress Semiconductor by 73.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 974 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in shares of Cypress Semiconductor in the 3rd quarter worth $62,000. Wealthcare Capital Management LLC purchased a new stake in shares of Cypress Semiconductor in the 2nd quarter worth $111,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Cypress Semiconductor in the 2nd quarter worth $175,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Cypress Semiconductor Company 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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