Xact Kapitalforvaltning AB Purchases New Position in Cypress Semiconductor Co. (CY)

Xact Kapitalforvaltning AB purchased a new position in shares of Cypress Semiconductor Co. (NASDAQ:CY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,003 shares of the semiconductor company’s stock, valued at approximately $457,000.

A number of other large investors also recently made changes to their positions in CY. TIAA CREF Investment Management LLC increased its stake in Cypress Semiconductor by 6.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,833,578 shares of the semiconductor company’s stock valued at $27,944,000 after purchasing an additional 112,026 shares during the period. Swiss National Bank increased its stake in Cypress Semiconductor by 2.8% in the fourth quarter. Swiss National Bank now owns 566,345 shares of the semiconductor company’s stock valued at $8,631,000 after purchasing an additional 15,400 shares during the period. Paloma Partners Management Co acquired a new position in Cypress Semiconductor in the fourth quarter valued at $890,000. Macquarie Group Ltd. increased its stake in Cypress Semiconductor by 1.6% in the fourth quarter. Macquarie Group Ltd. now owns 203,872 shares of the semiconductor company’s stock valued at $3,107,000 after purchasing an additional 3,222 shares during the period. Finally, Morse Asset Management Inc acquired a new position in Cypress Semiconductor in the fourth quarter valued at $2,626,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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CY stock opened at $16.68 on Friday. The stock has a market cap of $6,066.08, a P/E ratio of 26.47, a P/E/G ratio of 1.09 and a beta of 2.05. Cypress Semiconductor Co. has a 52 week low of $12.50 and a 52 week high of $18.87. The company has a current ratio of 1.22, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, March 28th. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 73.33%.

A number of research firms have commented on CY. Zacks Investment Research lowered shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday. SunTrust Banks restated a “hold” rating and issued a $19.00 price objective on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Craig Hallum lifted their price objective on shares of Cypress Semiconductor from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. KeyCorp lifted their price objective on shares of Cypress Semiconductor from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC restated a “buy” rating on shares of Cypress Semiconductor in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cypress Semiconductor has an average rating of “Buy” and a consensus price target of $19.19.

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

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Cypress Semiconductor 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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