Alambic Investment Management L.P. Sells 9,300 Shares of Cypress Semiconductor Co. (CY)
Alambic Investment Management L.P. cut its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 119,400 shares of the semiconductor company’s stock after selling 9,300 shares during the quarter. Alambic Investment Management L.P.’s holdings in Cypress Semiconductor were worth $1,820,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CY. Villere ST Denis J & Co. LLC acquired a new position in Cypress Semiconductor during the fourth quarter worth $69,678,000. Westfield Capital Management Co. LP acquired a new position in Cypress Semiconductor during the third quarter worth $53,009,000. Ameriprise Financial Inc. increased its holdings in Cypress Semiconductor by 34.1% during the third quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock worth $184,179,000 after buying an additional 3,116,871 shares during the last quarter. TCW Group Inc. increased its holdings in Cypress Semiconductor by 13.8% during the third quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock worth $202,214,000 after buying an additional 1,628,930 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Cypress Semiconductor by 33.2% during the third quarter. Neuberger Berman Group LLC now owns 2,478,865 shares of the semiconductor company’s stock worth $37,233,000 after buying an additional 618,013 shares during the last quarter. Institutional investors and hedge funds own 97.50% of the company’s stock.
A number of equities analysts recently weighed in on CY shares. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Cypress Semiconductor in a report on Friday, October 27th. BidaskClub raised shares of Cypress Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Piper Jaffray Companies started coverage on shares of Cypress Semiconductor in a research report on Monday, December 18th. They set an “overweight” rating and a $20.00 price objective for the company. Credit Suisse Group lifted their price objective on shares of Cypress Semiconductor from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.04.
Cypress Semiconductor Co. (NASDAQ:CY) opened at $17.15 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. Cypress Semiconductor Co. has a 52-week low of $12.23 and a 52-week high of $17.90. The company has a market cap of $5,720.00, a price-to-earnings ratio of -61.25, a price-to-earnings-growth ratio of 1.97 and a beta of 2.17.
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 the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $597.54 million during the quarter, compared to analysts’ expectations of $593.15 million. Cypress Semiconductor had a negative net margin of 4.02% and a positive return on equity of 12.42%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. equities analysts predict that Cypress Semiconductor Co. will post 0.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th were given a $0.11 dividend. The ex-dividend date was Wednesday, December 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.57%. Cypress Semiconductor’s payout ratio is presently -157.14%.
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.
Want to see what other hedge funds are holding CY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cypress Semiconductor Co. (NASDAQ:CY).
Receive News & Ratings for Cypress Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.