CIBC Asset Management Inc lowered its holdings in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 27.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,278 shares of the semiconductor company’s stock after selling 8,743 shares during the quarter. CIBC Asset Management Inc’s holdings in Cypress Semiconductor Corporation were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Cypress Semiconductor Corporation by 0.8% in the 2nd quarter. BlackRock Inc. now owns 27,848,587 shares of the semiconductor company’s stock valued at $380,133,000 after buying an additional 231,335 shares during the last quarter. FMR LLC grew its stake in Cypress Semiconductor Corporation by 310.3% in the 2nd quarter. FMR LLC now owns 12,371,805 shares of the semiconductor company’s stock valued at $168,875,000 after buying an additional 9,356,825 shares during the last quarter. State Street Corp grew its stake in Cypress Semiconductor Corporation by 3.4% in the 2nd quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock valued at $125,265,000 after buying an additional 302,001 shares during the last quarter. Alliancebernstein L.P. grew its stake in Cypress Semiconductor Corporation by 4.4% in the 2nd quarter. Alliancebernstein L.P. now owns 8,959,470 shares of the semiconductor company’s stock valued at $122,297,000 after buying an additional 380,718 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Cypress Semiconductor Corporation by 247.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,947,488 shares of the semiconductor company’s stock valued at $108,483,000 after buying an additional 5,658,750 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

A number of research analysts recently issued reports on CY shares. Mizuho reiterated a “buy” rating and issued a $17.00 target price on shares of Cypress Semiconductor Corporation in a research note on Tuesday, August 29th. KeyCorp set a $17.00 target price on shares of Cypress Semiconductor Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. Loop Capital reiterated a “buy” rating and issued a $20.00 target price (up from $17.00) on shares of Cypress Semiconductor Corporation in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Cypress Semiconductor Corporation in a research note on Friday, October 27th. Finally, BidaskClub lowered shares of Cypress Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.67.

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Shares of Cypress Semiconductor Corporation (NASDAQ CY) opened at $16.61 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 Corporation has a 12-month low of $10.51 and a 12-month high of $17.15. The firm has a market cap of $5,540.00, a PE ratio of 34.60, a PEG ratio of 2.99 and a beta of 2.02.

Cypress Semiconductor Corporation (NASDAQ:CY) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Cypress Semiconductor Corporation had a negative net margin of 5.75% and a positive return on equity of 9.01%. The business had revenue of $604.57 million for the quarter, compared to analyst estimates of $602.16 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. analysts anticipate that Cypress Semiconductor Corporation will post 0.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.65%. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is currently -110.00%.

In other Cypress Semiconductor Corporation news, Director Catherine P. Lego bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average cost of $13.69 per share, for a total transaction of $273,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor Corporation stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $16.60, for a total transaction of $49,800.00. Following the sale, the senior vice president now owns 70,607 shares in the company, valued at $1,172,076.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,087 shares of company stock worth $1,367,772. 0.69% of the stock is owned by company insiders.

About Cypress Semiconductor Corporation

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 Corporation (NASDAQ:CY)

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