MetLife Investment Advisors LLC increased its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,312 shares of the semiconductor company’s stock after buying an additional 3,780 shares during the period. MetLife Investment Advisors LLC owned 0.06% of Cypress Semiconductor worth $3,510,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Robecosam AG acquired a new position in shares of Cypress Semiconductor in the first quarter valued at approximately $39,856,000. Summit Trail Advisors LLC boosted its holdings in Cypress Semiconductor by 719.1% during the first quarter. Summit Trail Advisors LLC now owns 1,113,043 shares of the semiconductor company’s stock worth $1,113,000 after purchasing an additional 977,165 shares during the last quarter. Hancock Holding Co. acquired a new position in Cypress Semiconductor during the first quarter worth $11,967,000. Monarch Partners Asset Management LLC acquired a new position in Cypress Semiconductor during the second quarter worth $9,093,000. Finally, TCW Group Inc. boosted its holdings in Cypress Semiconductor by 3.9% during the first quarter. TCW Group Inc. now owns 12,883,502 shares of the semiconductor company’s stock worth $218,504,000 after purchasing an additional 483,236 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Several analysts have issued reports on CY shares. BidaskClub lowered shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine lowered shares of Cypress Semiconductor from a “sell” rating to a “strong sell” rating in a research report on Monday, October 8th. MKM Partners assumed coverage on shares of Cypress Semiconductor in a research report on Thursday, October 4th. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research lowered shares of Cypress Semiconductor from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Morgan Stanley dropped their price objective on shares of Cypress Semiconductor from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, September 24th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.86.
Shares of CY traded up $0.21 during mid-day trading on Friday, reaching $13.50. The company had a trading volume of 5,828,668 shares, compared to its average volume of 5,607,940. Cypress Semiconductor Co. has a 1-year low of $13.08 and a 1-year high of $18.87. The company has a current ratio of 1.37, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.24 billion, a P/E ratio of 22.50, a PEG ratio of 0.85 and a beta of 2.10.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The company had revenue of $624.00 million for the quarter, compared to the consensus estimate of $618.49 million. During the same period last year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Cypress Semiconductor Co. will post 1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Thursday, September 27th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.26%. Cypress Semiconductor’s payout ratio is currently 73.33%.
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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; 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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