Frontier Capital Management Co. LLC Has $22.12 Million Stake in Cypress Semiconductor Corporation (CY)

Frontier Capital Management Co. LLC decreased its stake in Cypress Semiconductor Corporation (NASDAQ:CY) by 19.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,620,744 shares of the semiconductor company’s stock after selling 387,329 shares during the period. Frontier Capital Management Co. LLC owned 0.49% of Cypress Semiconductor Corporation worth $22,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CY. Oregon Public Employees Retirement Fund boosted its position in shares of Cypress Semiconductor Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 114,455 shares of the semiconductor company’s stock valued at $1,575,000 after buying an additional 1,600 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Cypress Semiconductor Corporation by 20.1% in the first quarter. Essex Investment Management Co. LLC now owns 48,738 shares of the semiconductor company’s stock valued at $671,000 after buying an additional 8,155 shares in the last quarter. Wesbanco Bank Inc. boosted its position in shares of Cypress Semiconductor Corporation by 278.0% in the first quarter. Wesbanco Bank Inc. now owns 168,554 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 123,967 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Cypress Semiconductor Corporation by 11.6% in the first quarter. IFP Advisors Inc now owns 7,614 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 794 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Cypress Semiconductor Corporation by 274.1% in the first quarter. Janney Montgomery Scott LLC now owns 94,321 shares of the semiconductor company’s stock valued at $1,298,000 after buying an additional 69,107 shares in the last quarter. Institutional investors and hedge funds own 96.92% of the company’s stock.

Shares of Cypress Semiconductor Corporation (NASDAQ CY) opened at 12.94 on Tuesday. The company’s market capitalization is $4.30 billion. Cypress Semiconductor Corporation has a one year low of $9.63 and a one year high of $15.11. The firm has a 50-day moving average of $13.99 and a 200-day moving average of $13.65.

Cypress Semiconductor Corporation (NASDAQ:CY) last posted its quarterly earnings data 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 company had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $546.82 million. Cypress Semiconductor Corporation had a negative net margin of 6.04% and a positive return on equity of 6.27%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts forecast that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Thursday, September 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 3.40%. The ex-dividend date is Wednesday, September 27th. Cypress Semiconductor Corporation’s dividend payout ratio is presently -110.00%.

Several analysts have recently commented on CY shares. Barclays PLC upgraded shares of Cypress Semiconductor Corporation from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. KeyCorp set a $17.00 price objective on shares of Cypress Semiconductor Corporation and gave the company a “buy” rating in a research report on Wednesday, July 26th. TheStreet upgraded shares of Cypress Semiconductor Corporation from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Loop Capital restated a “buy” rating and set a $17.00 price objective on shares of Cypress Semiconductor Corporation in a research report on Friday, July 28th. Finally, Needham & Company LLC raised their price objective on shares of Cypress Semiconductor Corporation from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.67.

In other news, Director Eric Benhamou sold 50,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $13.31, for a total value of $665,500.00. Following the completion of the sale, the director now directly owns 89,997 shares in the company, valued at $1,197,860.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dana Nazarian sold 250,075 shares of the stock in a transaction dated Friday, August 4th. The shares were 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 owns 302,657 shares of the company’s stock, valued at $4,267,463.70. The disclosure for this sale can be found here. Insiders have sold 336,460 shares of company stock valued at $4,703,111 over the last 90 days. 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.