NEXT Financial Group Inc cut its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 31.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,527 shares of the semiconductor company’s stock after selling 30,775 shares during the period. NEXT Financial Group Inc’s holdings in Cypress Semiconductor were worth $1,560,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CY. Alpine Group USVI LLC acquired a new position in Cypress Semiconductor during the 3rd quarter valued at approximately $1,167,000. Polianta Ltd acquired a new stake in shares of Cypress Semiconductor in the third quarter worth $1,127,000. State of Alaska Department of Revenue increased its stake in shares of Cypress Semiconductor by 48.0% in the third quarter. State of Alaska Department of Revenue now owns 65,666 shares of the semiconductor company’s stock worth $1,532,000 after acquiring an additional 21,302 shares during the period. Water Island Capital LLC acquired a new stake in shares of Cypress Semiconductor in the second quarter worth $10,536,000. Finally, River & Mercantile Asset Management LLP acquired a new stake in shares of Cypress Semiconductor in the second quarter worth $1,287,000. Hedge funds and other institutional investors own 80.48% of the company’s stock.
In related news, CFO Trent Thad sold 40,000 shares of the 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 at the SEC website. Also, CEO Hassane El-Khoury sold 25,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $23.43, for a total value of $585,750.00. Following the completion of the transaction, the chief executive officer now owns 489,851 shares of the company’s stock, valued at approximately $11,477,208.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,000 shares of company stock worth $2,825,380. 0.55% of the stock is owned by corporate insiders.
CY has been the topic of a number of recent analyst reports. Mizuho reissued a “hold” rating and set a $23.85 price target on shares of Cypress Semiconductor in a report on Friday, October 25th. BidaskClub downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. ValuEngine downgraded shares of Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.61.
Shares of Cypress Semiconductor stock traded down $0.03 on Friday, hitting $23.31. The company’s stock had a trading volume of 1,509,500 shares, compared to its average volume of 5,795,779. The firm has a fifty day moving average price of $23.35 and a 200-day moving average price of $21.51. Cypress Semiconductor Co. has a 52-week low of $11.86 and a 52-week high of $23.50. The company has a market capitalization of $8.63 billion, a P/E ratio of 20.09 and a beta of 1.82. The company has a quick ratio of 0.91, a current ratio of 1.71 and a debt-to-equity ratio of 0.36.
Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, October 24th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $574.52 million for the quarter, compared to analysts’ expectations of $570.66 million. Cypress Semiconductor had a return on equity of 17.34% and a net margin of 12.74%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. As a group, analysts expect that Cypress Semiconductor Co. will post 0.83 earnings per share for the current year.
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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