Cypress Semiconductor Co. (CY) Shares Bought by Park West Asset Management LLC
Park West Asset Management LLC grew its holdings in Cypress Semiconductor Co. (NASDAQ:CY) by 38.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,175,000 shares of the semiconductor company’s stock after acquiring an additional 325,000 shares during the period. Park West Asset Management LLC owned about 0.33% of Cypress Semiconductor worth $19,928,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CY. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cypress Semiconductor by 40.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,245 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 12,405 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Cypress Semiconductor by 10.1% in the 4th quarter. Aperio Group LLC now owns 75,176 shares of the semiconductor company’s stock valued at $1,146,000 after acquiring an additional 6,919 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Cypress Semiconductor by 13.7% in the 4th quarter. CIBC Asset Management Inc now owns 26,478 shares of the semiconductor company’s stock valued at $404,000 after acquiring an additional 3,200 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Cypress Semiconductor by 12.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,582 shares of the semiconductor company’s stock valued at $451,000 after acquiring an additional 3,361 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Cypress Semiconductor by 316.1% in the 4th quarter. Teacher Retirement System of Texas now owns 112,679 shares of the semiconductor company’s stock valued at $1,717,000 after acquiring an additional 85,596 shares during the last quarter. 84.98% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Cowen assumed coverage on shares of Cypress Semiconductor in a report on Tuesday, May 22nd. They set an “outperform” rating and a $21.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Cypress Semiconductor in a report on Friday, April 27th. Zacks Investment Research downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. Finally, Mizuho reissued a “buy” rating on shares of Cypress Semiconductor in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.42.
Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $582.24 million during the quarter, compared to analysts’ expectations of $580.44 million. Cypress Semiconductor had a negative net margin of 1.63% and a positive return on equity of 15.62%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. equities research analysts predict that Cypress Semiconductor Co. will post 1.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Thursday, June 28th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, June 27th. Cypress Semiconductor’s dividend payout ratio is presently 73.33%.
In other news, EVP Sam Geha sold 9,818 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $16.60, for a total value of $162,978.80. Following the completion of the sale, the executive vice president now directly owns 65,647 shares in the company, valued at $1,089,740.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $17.24, for a total transaction of $51,720.00. Following the completion of the sale, the executive vice president now owns 123,125 shares of the company’s stock, valued at $2,122,675. The disclosure for this sale can be found here. Insiders have sold 24,718 shares of company stock valued at $419,469 over the last 90 days. 0.43% of the stock is currently owned by company insiders.
About Cypress Semiconductor
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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