Cypress Semiconductor Corp. (NASDAQ:CY) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 40,954,089 shares, an increase of 5.8% from the August 31st total of 38,718,852 shares. Currently, 13.3% of the shares of the company are short sold. Based on an average trading volume of 6,439,573 shares, the short-interest ratio is currently 6.4 days.
Cypress Semiconductor Corp. (NASDAQ:CY) opened at 11.88 on Wednesday. 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 price is $11.69 and its 200-day moving average price is $10.39. The company’s market capitalization is $3.82 billion.
Cypress Semiconductor Corp. (NASDAQ:CY) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Cypress Semiconductor Corp. had a positive return on equity of 3.26% and a negative net margin of 37.59%. The company had revenue of $450.10 million for the quarter, compared to analyst estimates of $455.15 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities research analysts predict that Cypress Semiconductor Corp. will post $0.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 29th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.70%. Cypress Semiconductor Corp.’s payout ratio is -20.85%.
Several research firms have weighed in on CY. Zacks Investment Research cut Cypress Semiconductor Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Needham & Company LLC increased their target price on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Craig Hallum increased their target price on Cypress Semiconductor Corp. from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Morgan Stanley lowered Cypress Semiconductor Corp. from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $11.36 to $11.00 in a report on Monday, July 18th. Finally, Roth Capital reissued a “buy” rating and set a $13.00 target price on shares of Cypress Semiconductor Corp. in a report on Friday, September 16th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.43.
In other Cypress Semiconductor Corp. news, Director Eric Benhamou sold 50,000 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $11.83, for a total transaction of $591,500.00. Following the transaction, the director now owns 218,538 shares in the company, valued at approximately $2,585,304.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider H Raymond Bingham sold 15,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $11.96, for a total value of $179,400.00. Following the transaction, the insider now owns 40,276 shares in the company, valued at approximately $481,700.96. The disclosure for this sale can be found here. 6.33% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Cypress Semiconductor Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 23,354,470 shares of the company’s stock worth $246,390,000 after buying an additional 669,663 shares during the last quarter. BlackRock Fund Advisors raised its stake in Cypress Semiconductor Corp. by 3.9% in the second quarter. BlackRock Fund Advisors now owns 11,762,252 shares of the company’s stock worth $124,092,000 after buying an additional 444,303 shares during the last quarter. ING Groep NV bought a new stake in Cypress Semiconductor Corp. during the second quarter worth about $123,556,000. Dimensional Fund Advisors LP raised its stake 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 worth $106,535,000 after buying an additional 2,553,068 shares during the last quarter. Finally, Element Capital Management LLC bought a new stake in Cypress Semiconductor Corp. during the second quarter worth about $9,495,000. Institutional investors own 96.60% of the company’s stock.
About Cypress Semiconductor Corp.
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.
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