Wesbanco Bank Inc. Has $3.11 Million Position in Cypress Semiconductor Corporation (CY)
Wesbanco Bank Inc. boosted its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 35.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,992 shares of the semiconductor company’s stock after buying an additional 59,438 shares during the period. Wesbanco Bank Inc. owned 0.07% of Cypress Semiconductor Corporation worth $3,112,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in CY. Principal Financial Group Inc. increased its position in Cypress Semiconductor Corporation by 4.3% in the second quarter. Principal Financial Group Inc. now owns 1,390,975 shares of the semiconductor company’s stock valued at $18,987,000 after buying an additional 57,876 shares during the last quarter. Unterberg Capital LLC bought a new position in Cypress Semiconductor Corporation during the second quarter valued at about $2,184,000. Leucadia National Corp bought a new position in Cypress Semiconductor Corporation during the second quarter valued at about $169,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cypress Semiconductor Corporation by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,207 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 1,156 shares during the last quarter. Finally, Brookstone Capital Management bought a new position in Cypress Semiconductor Corporation during the second quarter valued at about $281,000. Institutional investors own 97.36% of the company’s stock.
Cypress Semiconductor Corporation (NASDAQ CY) opened at 13.6034 on Thursday. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $15.11. The firm’s 50-day moving average is $13.97 and its 200-day moving average is $13.65. The stock’s market capitalization is $4.52 billion.
Cypress Semiconductor Corporation (NASDAQ:CY) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $593.80 million for the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. Cypress Semiconductor Corporation’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, equities research analysts predict that Cypress Semiconductor Corporation will post $0.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, September 27th. This represents a $0.44 dividend on an annualized basis and a yield of 3.24%. Cypress Semiconductor Corporation’s dividend payout ratio is currently -110.00%.
Several equities analysts have issued reports on CY shares. Stephens reaffirmed an “overweight” rating on shares of Cypress Semiconductor Corporation in a report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Cypress Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Bank of America Corporation reaffirmed a “buy” rating and set a $18.00 price objective on shares of Cypress Semiconductor Corporation in a report on Thursday, May 25th. Barclays PLC raised shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $18.00 in a report on Wednesday, June 28th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Cypress Semiconductor Corporation in a report on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Cypress Semiconductor Corporation currently has a consensus rating of “Buy” and an average price target of $16.75.
In other Cypress Semiconductor Corporation news, EVP Dana Nazarian sold 250,075 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $14.10, for a total transaction of $3,526,057.50. Following the completion of the sale, the executive vice president now directly owns 302,657 shares in the company, valued at approximately $4,267,463.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Oc Kwon sold 6,385 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 336,460 shares of company stock worth $4,703,111 in the last three months. 0.69% of the stock is currently owned by company insiders.
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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