Millennium Management LLC Lowers Position in Cypress Semiconductor Co. (CY)

Millennium Management LLC lowered its stake in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,931,217 shares of the semiconductor company’s stock after selling 401,157 shares during the quarter. Millennium Management LLC owned about 0.58% of Cypress Semiconductor worth $29,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Villere ST Denis J & Co. LLC purchased a new stake in Cypress Semiconductor in the 4th quarter valued at approximately $69,678,000. Westfield Capital Management Co. LP purchased a new stake in Cypress Semiconductor in the 3rd quarter valued at approximately $53,009,000. Garelick Capital Partners LP purchased a new stake in Cypress Semiconductor in the 4th quarter valued at approximately $19,356,000. First Trust Advisors LP boosted its holdings in Cypress Semiconductor by 113.9% in the 4th quarter. First Trust Advisors LP now owns 1,871,612 shares of the semiconductor company’s stock valued at $28,523,000 after purchasing an additional 996,755 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Cypress Semiconductor in the 4th quarter valued at approximately $14,376,000. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

Cypress Semiconductor Co. (NASDAQ:CY) opened at $17.24 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.22. Cypress Semiconductor Co. has a 12-month low of $12.50 and a 12-month high of $18.87. The stock has a market capitalization of $6,120.00, a P/E ratio of 26.94, a P/E/G ratio of 1.11 and a beta of 2.07.

Cypress Semiconductor (NASDAQ:CY) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Cypress Semiconductor had a positive return on equity of 12.48% and a negative net margin of 4.02%. The firm had revenue of $597.54 million during the quarter, compared to the consensus estimate of $593.15 million. During the same period in the previous year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. analysts predict that Cypress Semiconductor Co. will post 0.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.44 annualized dividend and a dividend yield of 2.55%. Cypress Semiconductor’s dividend payout ratio is currently -157.14%.

Several brokerages have recently commented on CY. Zacks Investment Research raised Cypress Semiconductor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. SunTrust Banks reissued a “hold” rating and set a $19.00 price target on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Craig Hallum boosted their price target on Cypress Semiconductor from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. KeyCorp boosted their price target on Cypress Semiconductor from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating on shares of Cypress Semiconductor in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $19.04.

In related news, EVP Sam Geha sold 20,652 shares of Cypress Semiconductor stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $17.59, for a total transaction of $363,268.68. Following the completion of the transaction, the executive vice president now directly owns 96,029 shares in the company, valued at approximately $1,689,150.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hassane El-Khoury sold 43,991 shares of Cypress Semiconductor stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $17.60, for a total value of $774,241.60. The disclosure for this sale can be found here. Insiders have sold a total of 83,643 shares of company stock valued at $1,478,110 over the last 90 days. Insiders own 0.69% of the company’s stock.

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Cypress Semiconductor Company Profile

Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.

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Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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