Cypress Semiconductor (CY) Shares Gap Down to $15.70
Shares of Cypress Semiconductor Co. (NASDAQ:CY) gapped down prior to trading on Tuesday . The stock had previously closed at $14.65, but opened at $15.70. Cypress Semiconductor shares last traded at $16.38, with a volume of 7142537 shares changing hands.
A number of brokerages recently issued reports on CY. Zacks Investment Research upgraded shares of Cypress Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks reiterated a “hold” rating and issued a $19.00 price target on shares of Cypress Semiconductor in a report on Friday, February 2nd. Craig Hallum lifted their price target on shares of Cypress Semiconductor from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, February 2nd. KeyCorp lifted their price target on shares of Cypress Semiconductor from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Cypress Semiconductor in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Cypress Semiconductor currently has an average rating of “Buy” and a consensus price target of $19.04.
The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $5,290.00, a P/E ratio of -56.64, a P/E/G ratio of 1.06 and a beta of 2.17.
In related news, SVP Sam Geha sold 14,517 shares of Cypress Semiconductor stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $17.34, for a total transaction of $251,724.78. Following the sale, the senior vice president now owns 41,204 shares of the company’s stock, valued at approximately $714,477.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Monday, December 18th. The stock was sold at an average price of $15.51, for a total transaction of $46,530.00. Following the sale, the senior vice president now directly owns 68,445 shares in the company, valued at approximately $1,061,581.95. The disclosure for this sale can be found here. In the last three months, insiders sold 23,517 shares of company stock worth $399,295. Insiders own 0.69% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CY. TCW Group Inc. boosted its holdings in shares of Cypress Semiconductor by 13.8% in the 3rd quarter. TCW Group Inc. now owns 13,463,003 shares of the semiconductor company’s stock valued at $202,214,000 after buying an additional 1,628,930 shares during the period. Ameriprise Financial Inc. boosted its stake in Cypress Semiconductor by 34.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,262,029 shares of the semiconductor company’s stock valued at $184,179,000 after purchasing an additional 3,116,871 shares during the period. State Street Corp boosted its stake in Cypress Semiconductor by 3.4% during the 2nd quarter. State Street Corp now owns 9,176,862 shares of the semiconductor company’s stock valued at $125,265,000 after purchasing an additional 302,001 shares during the period. Victory Capital Management Inc. boosted its stake in Cypress Semiconductor by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 5,904,237 shares of the semiconductor company’s stock valued at $89,980,000 after purchasing an additional 197,432 shares during the period. Finally, Villere ST Denis J & Co. LLC acquired a new position in Cypress Semiconductor during the 4th quarter valued at about $69,678,000. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
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About Cypress Semiconductor
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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