Cypress Semiconductor Corporation (CY) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its stake in Cypress Semiconductor Corporation (NASDAQ:CY) by 402.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,810,329 shares of the semiconductor company’s stock after buying an additional 5,453,982 shares during the period. Lazard Asset Management LLC owned 2.07% of Cypress Semiconductor Corporation worth $93,710,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CY. UBS Group AG boosted its stake in Cypress Semiconductor Corporation by 33.9% in the first quarter. UBS Group AG now owns 623,603 shares of the semiconductor company’s stock valued at $8,580,000 after buying an additional 157,889 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in Cypress Semiconductor Corporation by 2.0% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 147,552 shares of the semiconductor company’s stock valued at $2,031,000 after buying an additional 2,894 shares during the period. Geode Capital Management LLC boosted its stake in Cypress Semiconductor Corporation by 12.8% in the first quarter. Geode Capital Management LLC now owns 2,720,751 shares of the semiconductor company’s stock valued at $37,437,000 after buying an additional 308,933 shares during the period. Snow Capital Management LP boosted its stake in Cypress Semiconductor Corporation by 5.6% in the first quarter. Snow Capital Management LP now owns 4,014,760 shares of the semiconductor company’s stock valued at $55,243,000 after buying an additional 212,465 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Cypress Semiconductor Corporation by 1.0% in the first quarter. Vanguard Group Inc. now owns 28,928,330 shares of the semiconductor company’s stock valued at $398,053,000 after buying an additional 282,468 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

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

Cypress Semiconductor Corporation (NASDAQ:CY) traded up 1.37% on Monday, reaching $13.32. The company’s stock had a trading volume of 5,161,341 shares. The company’s market capitalization is $4.39 billion. The stock has a 50 day moving average price of $13.60 and a 200-day moving average price of $12.86. Cypress Semiconductor Corporation has a 1-year low of $9.11 and a 1-year high of $14.98.

Cypress Semiconductor Corporation (NASDAQ:CY) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. The business had revenue of $532 million for the quarter, compared to analysts’ expectations of $511.41 million. Cypress Semiconductor Corporation had a negative net margin of 30.84% and a positive return on equity of 5.31%. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities analysts predict that Cypress Semiconductor Corporation will post $0.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Thursday, June 29th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, June 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.30%. Cypress Semiconductor Corporation’s payout ratio is currently -22.22%.

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Several brokerages recently weighed in on CY. Pacific Crest reaffirmed an “overweight” rating and issued a $17.00 target price (up from $14.00) on shares of Cypress Semiconductor Corporation in a research report on Wednesday, March 29th. KeyCorp began coverage on Cypress Semiconductor Corporation in a research report on Wednesday, March 29th. They issued an “overweight” rating and a $17.00 target price on the stock. Loop Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cypress Semiconductor Corporation in a research report on Wednesday, March 29th. Craig Hallum increased their target price on Cypress Semiconductor Corporation from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price (up from $14.00) on shares of Cypress Semiconductor Corporation in a research report on Wednesday, March 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $15.46.

In related news, Director Oc Kwon sold 6,385 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $14.01, for a total value of $89,453.85. Following the sale, the director now owns 69,124 shares of the company’s stock, valued at $968,427.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Cypress Semiconductor Corporation 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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